Promethium Advisors LLC Boosts Stake in Visa Inc. $V

Promethium Advisors LLC lifted its holdings in Visa Inc. (NYSE:V) by 6.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,606 shares of the credit-card processor’s stock after purchasing an additional 147 shares during the quarter. Promethium Advisors LLC’s holdings in Visa were worth $913,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keystone Global Partners LLC purchased a new stake in Visa in the first quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the 1st quarter worth about $27,000. Measured Risk Portfolios Inc. acquired a new stake in Visa in the fourth quarter valued at approximately $47,000. O Brien Wealth Partners LLC purchased a new position in Visa during the first quarter valued at $54,000. Finally, Global X Japan Co. Ltd. acquired a new position in shares of Visa during the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $351.92 on Tuesday. The company has a 50-day simple moving average of $348.50 and a 200-day simple moving average of $347.35. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $645.00 billion, a PE ratio of 34.37, a P/E/G ratio of 2.34 and a beta of 0.92.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during 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 firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.42 earnings per share. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given 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 is Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Barclays reissued an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Macquarie raised their price objective on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $380.84.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on 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 directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,507 shares of company stock worth $25,213,475. 0.13% of the stock is currently owned by corporate insiders.

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.