JLB & Associates Inc. Has $5.71 Million Stock Holdings in Visa Inc. $V

JLB & Associates Inc. grew its position in Visa Inc. (NYSE:V) by 0.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 16,079 shares of the credit-card processor’s stock after purchasing an additional 81 shares during the quarter. JLB & Associates Inc.’s holdings in Visa were worth $5,709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keystone Global Partners LLC acquired a new stake in shares of Visa during the first quarter worth $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the second quarter worth $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the first quarter worth $27,000. Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the period. Finally, Westend Capital Management LLC raised its holdings in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after acquiring an additional 49 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on V. UBS Group restated a “buy” rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Macquarie lifted their price target 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. Barclays reiterated an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $385.96.

Visa Stock Performance

Shares of V stock opened at $345.97 on Friday. The company has a market capitalization of $634.09 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50-day simple moving average of $343.92 and a 200 day simple moving average of $346.60. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51.

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

Visa Dividend Announcement

The company also recently announced 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 was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s payout ratio is presently 23.05%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, 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 insiders.

Visa Company 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.