Hobart Private Capital LLC Purchases 3,062 Shares of Visa Inc. $V

Hobart Private Capital LLC grew its stake in shares of Visa Inc. (NYSE:V) by 265.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,215 shares of the credit-card processor’s stock after acquiring an additional 3,062 shares during the quarter. Hobart Private Capital LLC’s holdings in Visa were worth $1,497,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Northern Trust Corp increased its stake in shares of Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after acquiring an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the period. Charles Schwab Investment Management Inc. grew its position in Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock worth $4,442,157,000 after purchasing an additional 434,217 shares during the period. Finally, Wellington Management Group LLP grew its position in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Macquarie raised their price objective 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. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Friday. Finally, Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $392.75.

Visa Stock Performance

Shares of NYSE:V opened at $347.34 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The business’s 50 day moving average price is $344.79 and its 200-day moving average price is $347.98. The firm has a market capitalization of $636.60 billion, a PE ratio of 33.92, a P/E/G ratio of 2.05 and a beta of 0.90. Visa Inc. has a 1 year low of $280.78 and a 1 year high of $375.51.

Visa (NYSE:V) last issued its quarterly 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 firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the company posted $2.42 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm 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 was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is presently 23.05%.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’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 transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following 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. Insiders own 0.13% of the company’s stock.

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.