McAdam LLC Boosts Position in Visa Inc. $V

McAdam LLC raised its position in Visa Inc. (NYSE:V) by 24.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,647 shares of the credit-card processor’s stock after purchasing an additional 901 shares during the period. McAdam LLC’s holdings in Visa were worth $1,650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Surience Private Wealth LLC purchased a new stake in shares of Visa in the 2nd quarter worth about $3,980,000. Cora Capital Advisors LLC raised its position in Visa by 2.7% during the second quarter. Cora Capital Advisors LLC now owns 3,593 shares of the credit-card processor’s stock worth $1,276,000 after acquiring an additional 95 shares during the last quarter. Spectrum Planning & Advisory Services Inc. lifted its holdings in shares of Visa by 168.9% in the second quarter. Spectrum Planning & Advisory Services Inc. now owns 1,667 shares of the credit-card processor’s stock valued at $592,000 after purchasing an additional 1,047 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of Visa by 2.3% during the 2nd quarter. North Star Investment Management Corp. now owns 4,259 shares of the credit-card processor’s stock worth $1,512,000 after purchasing an additional 95 shares in the last quarter. Finally, Harrell Investment Partners LLC increased its stake in shares of Visa by 22.4% during the 2nd quarter. Harrell Investment Partners LLC now owns 17,898 shares of the credit-card processor’s stock worth $6,355,000 after purchasing an additional 3,279 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 1.1%

V opened at $335.09 on Friday. Visa Inc. has a 12 month low of $270.00 and a 12 month high of $375.51. The business has a 50-day moving average of $344.89 and a two-hundred day moving average of $346.22. 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 stock has a market capitalization of $614.15 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92.

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

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction 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 completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on V shares. Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating on the stock. Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $385.96.

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.