Visa Inc. $V Shares Bought by Private Management Group Inc.

Private Management Group Inc. increased its position in Visa Inc. (NYSE:V) by 238.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,998 shares of the credit-card processor’s stock after buying an additional 2,816 shares during the quarter. Private Management Group Inc.’s holdings in Visa were worth $1,419,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of V. AGP Franklin LLC boosted its position in shares of Visa by 1.9% during the 2nd quarter. AGP Franklin LLC now owns 8,624 shares of the credit-card processor’s stock valued at $3,062,000 after purchasing an additional 157 shares in the last quarter. RD Lewis Holdings Inc. raised its holdings in shares of Visa by 1.5% in the 2nd quarter. RD Lewis Holdings Inc. now owns 9,274 shares of the credit-card processor’s stock worth $3,080,000 after purchasing an additional 138 shares in the last quarter. Meridian Wealth Advisors LLC lifted its stake in Visa by 1.8% during the second quarter. Meridian Wealth Advisors LLC now owns 27,020 shares of the credit-card processor’s stock valued at $9,594,000 after purchasing an additional 473 shares during the last quarter. WealthBridge Capital Management LLC boosted its holdings in Visa by 5.8% during the second quarter. WealthBridge Capital Management LLC now owns 4,560 shares of the credit-card processor’s stock worth $1,619,000 after buying an additional 251 shares in the last quarter. Finally, Cozad Asset Management Inc. grew its position in Visa by 8.4% in the second quarter. Cozad Asset Management Inc. now owns 8,608 shares of the credit-card processor’s stock worth $3,056,000 after buying an additional 668 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $328.24 on Friday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $597.97 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 1.94 and a beta of 0.87. The stock’s fifty day simple moving average is $340.46 and its 200-day simple moving average is $347.92.

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

Visa Increases Dividend

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

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 900 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 24,042 shares of company stock worth $8,175,152. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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