Everhart Financial Group Inc. Raises Position in Visa Inc. (NYSE:V)

Everhart Financial Group Inc. raised its holdings in Visa Inc. (NYSE:V) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,801 shares of the credit-card processor’s stock after buying an additional 696 shares during the period. Everhart Financial Group Inc.’s holdings in Visa were worth $2,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Visa in the 4th quarter valued at $3,895,015,000. National Bank of Canada FI raised its holdings in shares of Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after purchasing an additional 4,099,122 shares in the last quarter. Swedbank AB acquired a new stake in shares of Visa in the 1st quarter valued at $511,321,000. GQG Partners LLC raised its holdings in shares of Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after purchasing an additional 1,715,686 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after acquiring an additional 1,489,856 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE V traded down $0.50 on Friday, hitting $267.44. The company’s stock had a trading volume of 3,697,448 shares, compared to its average volume of 7,178,655. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The company has a market capitalization of $489.13 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a 50 day moving average of $265.93 and a 200-day moving average of $273.30.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 earnings per share. As a group, research analysts predict that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

Several brokerages recently commented on V. Morgan Stanley cut their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Macquarie reiterated an “outperform” rating and set a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada cut their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $308.50.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.