Balentine LLC Purchases 8,539 Shares of Visa Inc. (NYSE:V)

Balentine LLC boosted its stake in shares of Visa Inc. (NYSE:VGet Rating) by 153.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,117 shares of the credit-card processor’s stock after acquiring an additional 8,539 shares during the period. Visa accounts for 0.2% of Balentine LLC’s portfolio, making the stock its 24th largest holding. Balentine LLC’s holdings in Visa were worth $3,131,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Capital Advisors Wealth Management LLC lifted its holdings in Visa by 0.4% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 10,563 shares of the credit-card processor’s stock valued at $2,289,000 after buying an additional 45 shares in the last quarter. Corbett Road Capital Management LLC raised its holdings in shares of Visa by 3.1% in the 4th quarter. Corbett Road Capital Management LLC now owns 1,486 shares of the credit-card processor’s stock valued at $322,000 after purchasing an additional 45 shares in the last quarter. Financial Consulate Inc. raised its holdings in shares of Visa by 1.0% in the 4th quarter. Financial Consulate Inc. now owns 4,851 shares of the credit-card processor’s stock valued at $1,051,000 after purchasing an additional 46 shares in the last quarter. Tranquilli Financial Advisor LLC raised its holdings in shares of Visa by 3.1% in the 4th quarter. Tranquilli Financial Advisor LLC now owns 1,537 shares of the credit-card processor’s stock valued at $333,000 after purchasing an additional 46 shares in the last quarter. Finally, Cross Staff Investments Inc raised its holdings in shares of Visa by 0.7% in the 1st quarter. Cross Staff Investments Inc now owns 6,801 shares of the credit-card processor’s stock valued at $1,508,000 after purchasing an additional 47 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

V opened at $213.47 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a fifty day moving average price of $205.25 and a 200 day moving average price of $210.48. Visa Inc. has a 1 year low of $185.91 and a 1 year high of $242.60. The stock has a market cap of $405.87 billion, a P/E ratio of 31.49, a P/E/G ratio of 1.68 and a beta of 0.89.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, August 11th. Visa’s dividend payout ratio is currently 22.12%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Visa from $284.00 to $291.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Barclays boosted their price objective on shares of Visa from $263.00 to $271.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. Citigroup reduced their price objective on shares of Visa from $270.00 to $254.00 in a research note on Tuesday, July 26th. Credit Suisse Group boosted their price objective on shares of Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 27th. Finally, Robert W. Baird dropped their target price on shares of Visa from $290.00 to $265.00 in a research report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $258.64.

Insider Activity at Visa

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $212.11, for a total value of $1,908,990.00. Following the completion of the transaction, the chief executive officer now directly owns 156,887 shares in the company, valued at approximately $33,277,301.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 27,000 shares of company stock worth $5,560,740 in the last three months. Company insiders own 0.21% of the company’s stock.

Visa Company Profile

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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