Diligent Investors LLC Acquires 103 Shares of Visa Inc. $V

Diligent Investors LLC grew its holdings in Visa Inc. (NYSE:V) by 0.6% during the second quarter, Holdings Channel.com reports. The firm owned 17,126 shares of the credit-card processor’s stock after acquiring an additional 103 shares during the period. Visa accounts for about 1.4% of Diligent Investors LLC’s portfolio, making the stock its 8th largest position. Diligent Investors LLC’s holdings in Visa were worth $6,080,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of V. Keystone Global Partners LLC bought a new stake in shares of Visa during the first quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the first quarter worth $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa during the second quarter worth $28,000. Cranbrook Wealth Management LLC raised its position 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 last quarter. Finally, 1 North Wealth Services LLC bought a new stake in shares of Visa during the first quarter worth $38,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.8%

Shares of Visa stock opened at $351.96 on Wednesday. Visa Inc. has a 1 year low of $274.01 and a 1 year high of $375.51. The business has a 50-day moving average of $343.65 and a two-hundred day moving average of $346.93. The company has a market capitalization of $645.06 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly 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 return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the company earned $2.42 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

Wall Street Analyst Weigh In

V has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Raymond James Financial restated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Robert W. Baird set a $410.00 price objective on Visa and gave the company an “outperform” rating in a report on Monday. Finally, Barclays reiterated an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $389.00.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $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. 0.13% of the stock is owned by corporate 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.