Visa Inc. $V Shares Acquired by Drake & Associates LLC

Drake & Associates LLC grew its position in Visa Inc. (NYSE:V) by 31.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,154 shares of the credit-card processor’s stock after purchasing an additional 520 shares during the period. Drake & Associates LLC’s holdings in Visa were worth $765,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of V. Keystone Global Partners LLC acquired a new stake in Visa during the first quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter worth about $28,000. von Borstel & Associates Inc. acquired a new stake in Visa during the first quarter worth about $27,000. Cranbrook Wealth Management LLC grew its holdings in 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 grew its holdings in 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Barclays reaffirmed an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Robert W. Baird set a $410.00 target price on Visa and gave the stock an “outperform” rating in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

Visa Stock Performance

NYSE V opened at $346.66 on Friday. Visa Inc. has a 1-year low of $275.35 and a 1-year high of $375.51. The company has a market cap of $635.36 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50 day simple moving average is $343.68 and its 200-day simple moving average is $346.98.

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

Visa Announces Dividend

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

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

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.