Titleist Asset Management LLC Grows Position in Visa Inc. $V

Titleist Asset Management LLC raised its stake in shares of Visa Inc. (NYSE:V) by 15.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,223 shares of the credit-card processor’s stock after purchasing an additional 565 shares during the period. Titleist Asset Management LLC’s holdings in Visa were worth $1,499,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in V. Keystone Global Partners LLC acquired a new stake in shares of Visa during the 1st quarter worth $26,000. Family Legacy Financial Solutions LLC acquired a new position in Visa in the second quarter valued at $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the second quarter valued at about $29,000. Cranbrook Wealth Management LLC increased its stake in Visa by 82.0% during the second 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 last quarter. Finally, Hoese & Co LLP acquired a new stake in Visa during the second quarter worth about $36,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,042 shares of company stock valued at $8,175,152 in the last ninety days. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on V shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and issued a $408.00 price target (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Morgan Stanley set a $398.00 price target on shares of Visa and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Robert W. Baird set a $425.00 price objective on shares of Visa in a research note on Wednesday, October 29th. Finally, Macquarie dropped their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Stock Up 1.4%

NYSE V opened at $328.24 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The business has a 50 day moving average price of $340.46 and a two-hundred day moving average price of $347.92. The stock has a market cap of $597.97 billion, a PE ratio of 32.15, a P/E/G ratio of 1.94 and a beta of 0.87.

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

Visa Increases Dividend

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

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.