Concentric Capital Strategies LP Has $8.64 Million Stock Position in Visa Inc. $V

Concentric Capital Strategies LP grew its position in Visa Inc. (NYSE:V) by 48.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,644 shares of the credit-card processor’s stock after buying an additional 8,037 shares during the quarter. Visa makes up approximately 0.8% of Concentric Capital Strategies LP’s portfolio, making the stock its 20th largest position. Concentric Capital Strategies LP’s holdings in Visa were worth $8,637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Keystone Global Partners LLC acquired a new position in shares of Visa in the first quarter worth about $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the first quarter worth approximately $27,000. 1 North Wealth Services LLC purchased a new stake in shares of Visa in the first quarter worth approximately $38,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa in the fourth quarter worth approximately $47,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of Visa in the first quarter worth approximately $54,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on 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 transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,293 shares of company stock valued at $8,114,295 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Macquarie increased their price target on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “neutral” rating for the company. Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target for the company. Finally, Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

Visa Price Performance

Shares of V opened at $350.35 on Thursday. The firm has a market cap of $642.11 billion, a PE ratio of 34.21, a PEG ratio of 2.34 and a beta of 0.92. The firm’s 50 day moving average price is $348.56 and its 200 day moving average price is $347.38. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51.

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

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 23.05%.

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.