Visa Inc. $V Shares Purchased by IMG Wealth Management Inc.

IMG Wealth Management Inc. increased its position in shares of Visa Inc. (NYSE:V) by 34.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 634 shares of the credit-card processor’s stock after acquiring an additional 163 shares during the quarter. IMG Wealth Management Inc.’s holdings in Visa were worth $225,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of V. Brighton Jones LLC boosted its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the period. GAMMA Investing LLC raised its stake in Visa by 9.9% during the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock worth $14,761,000 after purchasing an additional 3,795 shares during the period. Invesco LLC raised its stake in Visa by 8.3% during the first quarter. Invesco LLC now owns 16,871 shares of the credit-card processor’s stock worth $5,913,000 after purchasing an additional 1,300 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Visa by 0.9% during the first quarter. International Assets Investment Management LLC now owns 37,490 shares of the credit-card processor’s stock worth $13,139,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent analyst reports. Barclays reaffirmed an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Macquarie increased their price target on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Finally, Citigroup assumed coverage on shares of Visa in a research note on Wednesday. They set a “buy” rating and a $450.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $392.75.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

Shares of V stock opened at $345.82 on Friday. The company’s fifty day simple moving average is $344.73 and its 200-day simple moving average is $347.33. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $633.81 billion, a PE ratio of 33.77, a P/E/G ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the firm posted $2.42 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

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.