Visa Inc. $V Shares Acquired by RB Capital Management LLC

RB Capital Management LLC grew its stake in Visa Inc. (NYSE:V) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,863 shares of the credit-card processor’s stock after acquiring an additional 288 shares during the quarter. Visa comprises approximately 2.2% of RB Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. RB Capital Management LLC’s holdings in Visa were worth $9,538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Garde Capital Inc. increased its stake in shares of Visa by 3.8% in the 2nd quarter. Garde Capital Inc. now owns 2,640 shares of the credit-card processor’s stock worth $937,000 after acquiring an additional 97 shares during the last quarter. McLean Asset Management Corp grew its holdings in shares of Visa by 2.4% during the 2nd quarter. McLean Asset Management Corp now owns 3,798 shares of the credit-card processor’s stock worth $1,345,000 after purchasing an additional 89 shares during the period. Sage Capital Advisors llc grew its holdings in shares of Visa by 3.4% during the 2nd quarter. Sage Capital Advisors llc now owns 2,584 shares of the credit-card processor’s stock worth $917,000 after purchasing an additional 85 shares during the period. Michael S. Ryan Inc. purchased a new position in shares of Visa during the 2nd quarter worth $209,000. Finally, Norway Savings Bank grew its holdings in shares of Visa by 1.4% during the 2nd quarter. Norway Savings Bank now owns 3,082 shares of the credit-card processor’s stock worth $1,094,000 after purchasing an additional 43 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of Visa stock opened at $339.33 on Friday. The business has a 50-day moving average of $347.03 and a 200 day moving average of $346.92. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. The stock has a market capitalization of $621.92 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.42 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on V. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Macquarie increased their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Visa 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.