Byrne Asset Management LLC Has $2.87 Million Stock Position in Visa Inc. $V

Byrne Asset Management LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,090 shares of the credit-card processor’s stock after selling 547 shares during the quarter. Visa comprises about 1.9% of Byrne Asset Management LLC’s holdings, making the stock its 9th biggest holding. Byrne Asset Management LLC’s holdings in Visa were worth $2,872,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Keystone Global Partners LLC purchased a new stake in Visa during the 1st quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new stake in Visa during the 1st quarter valued at about $27,000. 1 North Wealth Services LLC purchased a new stake in Visa during the 1st quarter valued at about $38,000. Anderson Financial Strategies LLC purchased a new stake in Visa during the 1st quarter valued at about $53,000. Finally, O Brien Wealth Partners LLC purchased a new stake in Visa during the 1st quarter valued at about $54,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a “neutral” rating on the stock. UBS Group reaffirmed a “buy” rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $385.96.

Visa Stock Performance

V opened at $339.92 on Wednesday. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51. The company has a market cap of $623.00 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.26 and a beta of 0.92. The company’s 50 day moving average is $346.38 and its 200 day moving average is $346.64. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter last year, the business earned $2.42 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was 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 in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

About Visa

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.