Agate Pass Investment Management LLC Grows Position in Visa Inc. (NYSE:V)

Agate Pass Investment Management LLC boosted its stake in Visa Inc. (NYSE:V) by 4.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,715 shares of the credit-card processor’s stock after acquiring an additional 186 shares during the period. Agate Pass Investment Management LLC’s holdings in Visa were worth $1,238,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares in the last quarter. Capital International Investors lifted its holdings in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after buying an additional 626,618 shares in the last quarter. Capital World Investors boosted its position in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares during the period. Norges Bank acquired a new position in shares of Visa in the fourth quarter worth $3,895,015,000. Finally, Jennison Associates LLC increased its position in shares of Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after acquiring an additional 85,123 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. Mizuho lifted their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Jefferies Financial Group decreased their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Oppenheimer upped their target price on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Citigroup reduced their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $307.25.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V traded up $0.24 on Tuesday, reaching $260.13. The company’s stock had a trading volume of 11,866,660 shares, compared to its average volume of 7,231,875. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. The stock has a market capitalization of $474.04 billion, a P/E ratio of 29.03, a PEG ratio of 1.83 and a beta of 0.95. The stock’s 50-day moving average is $267.35 and its two-hundred day moving average is $273.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.