SCS Capital Management LLC Has $6.31 Million Position in Visa Inc. $V

SCS Capital Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 19.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,777 shares of the credit-card processor’s stock after purchasing an additional 2,941 shares during the period. SCS Capital Management LLC’s holdings in Visa were worth $6,312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after acquiring an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC increased its stake in shares of Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after purchasing an additional 111 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Visa by 5.9% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after purchasing an additional 5,295 shares during the period. Consilium Wealth Advisory LLC purchased a new position in Visa in the second quarter valued at approximately $862,000. Finally, Iron Gate Global Advisors LLC grew its holdings in Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after purchasing an additional 3,484 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

NYSE:V opened at $330.92 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The firm has a market cap of $602.85 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 1.94 and a beta of 0.82. The business’s fifty day moving average is $338.75 and its 200 day moving average is $346.17.

Visa (NYSE:V) last issued its 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 during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 EPS. Research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

Insider Activity at Visa

In related news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $183,117. This represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 24,042 shares of company stock valued at $8,175,152. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on V. KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a report on Wednesday, October 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 price objective (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Finally, Robert W. Baird set a $425.00 target price on shares of Visa 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 company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

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.