Visa Inc. $V Shares Acquired by Brookstone Capital Management

Brookstone Capital Management lifted its stake in shares of Visa Inc. (NYSE:V) by 13.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,659 shares of the credit-card processor’s stock after buying an additional 5,829 shares during the quarter. Brookstone Capital Management’s holdings in Visa were worth $17,631,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keystone Global Partners LLC acquired a new position in shares of Visa during the first quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new position in Visa in the second quarter valued at approximately $28,000. von Borstel & Associates Inc. acquired a new position in Visa in the first quarter valued at approximately $27,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the second quarter valued at approximately $29,000. Finally, Cranbrook Wealth Management LLC boosted its holdings in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 0.4%

Visa stock opened at $347.34 on Friday. 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 firm has a market capitalization of $636.60 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. Visa Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51. The stock’s fifty day moving average is $344.79 and its two-hundred day moving average is $347.60.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.42 earnings per share. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on V shares. Barclays reissued an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Oppenheimer increased their price objective on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday. Finally, KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $392.75.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following 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 transaction 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 stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, 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 owned by company insiders.

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.