Visa Inc. $V Shares Purchased by Gray Private Wealth LLC

Gray Private Wealth LLC raised its position in Visa Inc. (NYSE:V) by 30.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 758 shares of the credit-card processor’s stock after purchasing an additional 178 shares during the quarter. Gray Private Wealth LLC’s holdings in Visa were worth $269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of V. Keystone Global Partners LLC purchased a new position in shares of Visa in the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa in the 2nd quarter valued at approximately $28,000. von Borstel & Associates Inc. purchased a new position in Visa in the 1st quarter valued at approximately $27,000. Cranbrook Wealth Management LLC increased its position in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the period. Finally, Westend Capital Management LLC increased its position in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after acquiring an additional 49 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 1.1%

Visa stock opened at $349.90 on Monday. The company has a market capitalization of $641.28 billion, a P/E ratio of 34.17, a PEG ratio of 2.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $273.24 and a fifty-two week high of $375.51. The stock has a 50-day simple moving average of $343.78 and a 200-day simple moving average of $346.81.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate 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%.The firm’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 earnings per share. Equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio is 23.05%.

Analysts Set New Price Targets

Several research firms recently commented on V. Oppenheimer boosted their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Barclays reiterated an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Macquarie lifted their price target on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, UBS Group reissued a “buy” rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.