Rehmann Capital Advisory Group Buys 447 Shares of Visa Inc. $V

Rehmann Capital Advisory Group increased its stake in Visa Inc. (NYSE:V) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,993 shares of the credit-card processor’s stock after buying an additional 447 shares during the period. Rehmann Capital Advisory Group’s holdings in Visa were worth $5,679,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of V. Keystone Global Partners LLC bought a new position in Visa in the first quarter worth about $26,000. von Borstel & Associates Inc. bought a new position in Visa in the first quarter worth about $27,000. Family Legacy Financial Solutions LLC bought a new position in Visa in the second quarter worth about $28,000. Harbor Asset Planning Inc. bought a new position in Visa in the second quarter worth about $29,000. Finally, Cranbrook Wealth Management LLC raised its stake in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This trade 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 at 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 completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Price Performance

Shares of V opened at $347.34 on Friday. The company has a market capitalization of $636.60 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $344.79 and a 200 day moving average of $347.60. Visa Inc. has a twelve month low of $280.78 and a twelve month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results 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 company 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%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.42 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given 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 dividend payout ratio (DPR) is 23.05%.

Analyst Upgrades and Downgrades

V has been the subject of a number of research reports. 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 note on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research note on Friday. Morgan Stanley lifted their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Finally, Robert W. Baird set a $410.00 price target on Visa and gave the stock an “outperform” rating in a research report on Monday, October 6th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $392.75.

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.