Sonata Capital Group Inc. Grows Position in Visa Inc. $V

Sonata Capital Group Inc. grew its stake in Visa Inc. (NYSE:V) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,321 shares of the credit-card processor’s stock after purchasing an additional 74 shares during the period. Sonata Capital Group Inc.’s holdings in Visa were worth $469,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Keystone Global Partners LLC purchased a new position in shares of Visa during the 1st quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa during the 1st quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa during the 2nd quarter valued at approximately $28,000. Harbor Asset Planning Inc. purchased a new position in shares of Visa during the 2nd quarter valued at approximately $29,000. Finally, Cranbrook Wealth Management LLC lifted its position in shares of Visa by 82.0% during 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 in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on V. Barclays reissued an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer increased their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Robert W. Baird set a $410.00 price objective on Visa and gave the company an “outperform” rating in a research note on Monday, October 6th. Finally, KeyCorp reissued an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research note on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $392.75.

Visa Stock Up 0.4%

Shares of V opened at $347.34 on Friday. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. The company has a market capitalization of $636.60 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The stock has a fifty day simple moving average of $344.79 and a two-hundred day simple moving average of $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.

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, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the company earned $2.42 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is 23.05%.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on 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 owned 11,925 shares of the company’s stock, valued at approximately $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 company insiders.

Visa 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.