Proficio Capital Partners LLC Has $9.53 Million Stock Position in Visa Inc. $V

Proficio Capital Partners LLC raised its position in Visa Inc. (NYSE:V) by 43.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,768 shares of the credit-card processor’s stock after purchasing an additional 8,344 shares during the quarter. Proficio Capital Partners LLC’s holdings in Visa were worth $9,527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. XXEC Inc. lifted its holdings in shares of Visa by 153,118.8% during the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after buying an additional 186,138,883 shares during the last quarter. Norges Bank acquired a new position in Visa in the fourth quarter worth approximately $5,877,738,000. Cardano Risk Management B.V. increased its holdings in Visa by 867.6% in the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock worth $2,880,595,000 after buying an additional 7,364,762 shares during the last quarter. Diamant Asset Management Inc. raised its position in Visa by 29,706.3% during the first quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock valued at $2,216,310,000 after acquiring an additional 7,308,345 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in Visa during the second quarter valued at approximately $1,435,262,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of several recent research reports. Sanford C. Bernstein reissued an “outperform” rating and issued a $450.00 target price on shares of Visa in a research report on Tuesday, June 2nd. BMO Capital Markets raised their price target on shares of Visa from $387.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Clear Str raised shares of Visa to a “strong-buy” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Visa from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $430.00 target price (up from $394.00) on shares of Visa in a research report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $416.62.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $6,625,440. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the transaction, the insider owned 49,662 shares of the company’s stock, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 96,634 shares of company stock valued at $34,537,016 in the last 90 days. 0.12% of the stock is currently owned by insiders.

Visa Stock Down 0.6%

Visa stock opened at $379.17 on Tuesday. The firm has a market cap of $676.60 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 2.04 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $385.57. The firm has a fifty day moving average price of $360.10 and a two-hundred day moving average price of $331.83.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.09. The company had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business posted $2.98 earnings per share. As a group, analysts forecast that Visa Inc. will post 13.16 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be paid a dividend of $0.67 per share. The ex-dividend date is Tuesday, August 11th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is presently 22.79%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.