Brogan Financial Inc. Grows Stock Holdings in Visa Inc. $V

Brogan Financial Inc. lifted its holdings in Visa Inc. (NYSE:V) by 39.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,385 shares of the credit-card processor’s stock after acquiring an additional 393 shares during the period. Brogan Financial Inc.’s holdings in Visa were worth $492,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. 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 during the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. acquired a new position in Visa during the 2nd quarter worth approximately $29,000. Cranbrook Wealth Management LLC boosted 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 worth $32,000 after acquiring an additional 41 shares during the period. Finally, Hoese & Co LLP acquired a new stake in Visa in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $335.76 on Friday. The firm has a fifty day moving average of $342.43 and a two-hundred day moving average of $348.69. The firm has a market cap of $615.37 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.05 and a beta of 0.87. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.71 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is 26.25%.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction 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. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. UBS Group set a $425.00 price target on shares of Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and issued a $408.00 price objective (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Macquarie cut their price target on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $400.00.

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.