Steel Grove Capital Advisors LLC Acquires 205 Shares of Visa Inc. $V

Steel Grove Capital Advisors LLC increased its holdings in Visa Inc. (NYSE:V) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,206 shares of the credit-card processor’s stock after purchasing an additional 205 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Visa were worth $783,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Pacific Heights Asset Management LLC increased its position in Visa by 1.9% in the second quarter. Pacific Heights Asset Management LLC now owns 54,000 shares of the credit-card processor’s stock worth $19,173,000 after purchasing an additional 1,000 shares during the last quarter. Members Trust Co boosted its stake in Visa by 14.7% during the second quarter. Members Trust Co now owns 3,893 shares of the credit-card processor’s stock worth $1,382,000 after buying an additional 500 shares during the period. Family Capital Management Inc. boosted its stake in Visa by 31.2% during the second quarter. Family Capital Management Inc. now owns 3,246 shares of the credit-card processor’s stock worth $1,152,000 after buying an additional 771 shares during the period. Sterling Investment Management LLC boosted its stake in Visa by 11.0% during the second quarter. Sterling Investment Management LLC now owns 12,128 shares of the credit-card processor’s stock worth $4,306,000 after buying an additional 1,201 shares during the period. Finally, Brookstone Capital Management boosted its stake in Visa by 13.3% during the second quarter. Brookstone Capital Management now owns 49,659 shares of the credit-card processor’s stock worth $17,631,000 after buying an additional 5,829 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction 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 transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade 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.

Analyst Ratings Changes

Several research analysts have commented on V shares. Morgan Stanley lifted their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective for the company. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $392.75.

Visa Stock Up 0.4%

Shares of V opened at $347.34 on Friday. The firm has a market capitalization of $636.60 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.05 and a beta of 0.90. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average price of $344.79 and a 200-day moving average price of $347.60.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 earnings per share. Equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend 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 is 23.05%.

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.