Bleakley Financial Group LLC Has $21.01 Million Holdings in Visa Inc. $V

Bleakley Financial Group LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 13.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,167 shares of the credit-card processor’s stock after purchasing an additional 6,880 shares during the quarter. Bleakley Financial Group LLC’s holdings in Visa were worth $21,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of V. Keystone Global Partners LLC bought a new stake in Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new stake in Visa in the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. bought a new stake in Visa in the 2nd quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC increased its holdings in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on V. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday. Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Robert W. Baird set a $410.00 target price on shares of Visa and gave the stock an “outperform” rating in a research report on Monday, October 6th. KeyCorp reiterated an “overweight” rating and set a $405.00 target price on shares of Visa in a research report on Wednesday. Finally, Macquarie increased their target price on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Four equities research 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 stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $392.75.

Visa Stock Up 0.4%

Shares of NYSE:V opened at $347.34 on Friday. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The company’s 50-day moving average price is $344.79 and its two-hundred day moving average price is $347.87. 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 market cap 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 (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The company’s revenue was up 14.3% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued 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 yield of 0.7%. Visa’s dividend payout ratio is currently 23.05%.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. 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.