Visa Inc. $V is SRN Advisors LLC’s 2nd Largest Position

SRN Advisors LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 23.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 7,471 shares of the credit-card processor’s stock after selling 2,251 shares during the quarter. Visa comprises about 2.9% of SRN Advisors LLC’s holdings, making the stock its 2nd biggest position. SRN Advisors LLC’s holdings in Visa were worth $2,618,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of V. Lakeridge Wealth Management LLC boosted its position in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after acquiring an additional 81 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after acquiring an additional 57,800 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after acquiring an additional 30,185 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock valued at $192,948,000 after acquiring an additional 43,546 shares during the last quarter. Finally, FJ Capital Management LLC acquired a new position in shares of Visa during the 4th quarter valued at about $283,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.6%

NYSE V opened at $351.92 on Friday. The stock has a market capitalization of $645.00 billion, a P/E ratio of 34.37, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. 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 firm’s 50-day moving average is $348.35 and its two-hundred day moving average is $347.44.

Visa (NYSE:V) last issued its quarterly 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. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 earnings per share. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Transactions at Visa

In other news, 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 transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,127 shares of company stock valued at $28,340,553. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on V. Jefferies Financial Group boosted their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. The Goldman Sachs Group began coverage on shares of Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Macquarie upped their target price on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $380.84.

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.