Nikko Asset Management Americas Inc. grew its stake in shares of Visa Inc (NYSE:V) by 9.1% in the second quarter, HoldingsChannel.com reports. The fund owned 232,816 shares of the credit-card processor’s stock after purchasing an additional 19,368 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Visa were worth $30,836,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. HC Financial Advisors Inc. bought a new position in shares of Visa in the fourth quarter worth about $2,805,000. Bridges Investment Management Inc. lifted its holdings in shares of Visa by 0.6% in the fourth quarter. Bridges Investment Management Inc. now owns 145,072 shares of the credit-card processor’s stock worth $16,541,000 after acquiring an additional 845 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Visa by 2.5% in the fourth quarter. BlackRock Inc. now owns 120,243,230 shares of the credit-card processor’s stock worth $13,710,132,000 after acquiring an additional 2,986,301 shares during the last quarter. Waratah Capital Advisors Ltd. lifted its holdings in shares of Visa by 4.5% in the fourth quarter. Waratah Capital Advisors Ltd. now owns 50,839 shares of the credit-card processor’s stock worth $5,797,000 after acquiring an additional 2,204 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of Visa in the fourth quarter worth about $3,718,000. Institutional investors own 80.23% of the company’s stock.

Several research analysts have recently issued reports on V shares. Morgan Stanley upped their price objective on Visa from $142.00 to $165.00 and gave the company a “$140.13” rating in a research note on Thursday, July 19th. SunTrust Banks upped their price objective on Visa to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Loop Capital upped their price objective on Visa to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Bank of America upped their price objective on Visa from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, July 17th. Finally, Buckingham Research upped their price objective on Visa from $152.00 to $169.00 and gave the company a “buy” rating in a research note on Tuesday, June 26th. Three equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Visa currently has a consensus rating of “Buy” and an average target price of $147.87.

In other Visa news, SVP James H. Hoffmeister sold 6,912 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.01, for a total transaction of $967,749.12. Following the transaction, the senior vice president now directly owns 6,912 shares in the company, valued at approximately $967,749.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vasant M. Prabhu sold 25,064 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total value of $3,522,995.84. Following the transaction, the chief financial officer now owns 58,232 shares in the company, valued at $8,185,089.92. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

NYSE:V opened at $146.74 on Friday. The company has a market cap of $295.78 billion, a price-to-earnings ratio of 42.17, a PEG ratio of 1.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.69. Visa Inc has a fifty-two week low of $102.26 and a fifty-two week high of $147.71.

Visa (NYSE:V) last released its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.11. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.09 billion. Visa had a net margin of 47.91% and a return on equity of 36.09%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. sell-side analysts expect that Visa Inc will post 4.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 16th. Visa’s dividend payout ratio is presently 24.14%.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

Further Reading: Average Daily Trade Volume – What It Means In Stock Trading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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