Visa Inc. $V Holdings Lifted by Engineers Gate Manager LP

Engineers Gate Manager LP grew its holdings in shares of Visa Inc. (NYSE:V) by 54.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,279 shares of the credit-card processor’s stock after buying an additional 46,125 shares during the period. Visa accounts for about 0.6% of Engineers Gate Manager LP’s investment portfolio, making the stock its 13th biggest holding. Engineers Gate Manager LP’s holdings in Visa were worth $46,256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in V. BankPlus Wealth Management LLC raised its stake in Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after buying an additional 29 shares during the last quarter. Transcendent Capital Group LLC boosted its position in Visa by 2.9% during the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares during the last quarter. Interchange Capital Partners LLC grew its holdings in Visa by 0.5% during the 2nd quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock worth $2,276,000 after acquiring an additional 30 shares during the period. Academy Capital Management raised its position in shares of Visa by 3.7% in the 1st quarter. Academy Capital Management now owns 860 shares of the credit-card processor’s stock worth $301,000 after acquiring an additional 31 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID raised its position in shares of Visa by 12.0% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 289 shares of the credit-card processor’s stock worth $101,000 after acquiring an additional 31 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE:V opened at $347.83 on Friday. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The stock’s 50 day moving average is $337.70 and its 200-day moving average is $345.34. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $633.65 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 2.05 and a beta of 0.82.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 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 business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the business posted $2.71 EPS. Visa’s quarterly revenue was up 11.5% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on V. Robert W. Baird set a $425.00 target price on Visa in a research report on Wednesday, October 29th. Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Evercore ISI set a $380.00 target price 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 note on Monday, September 22nd. Five research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $402.52.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated 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 owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the transaction, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This trade represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,042 shares of company stock worth $8,175,152 in the last quarter. Insiders own 0.13% of the company’s stock.

About Visa

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.