HighTower Advisors LLC Buys 100,276 Shares of Visa Inc. $V

HighTower Advisors LLC raised its stake in Visa Inc. (NYSE:V) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,483,966 shares of the credit-card processor’s stock after buying an additional 100,276 shares during the period. HighTower Advisors LLC’s holdings in Visa were worth $509,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its position in shares of Visa by 4.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after buying an additional 477 shares in the last quarter. Matrix Asset Advisors Inc. NY increased its stake in shares of Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after buying an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. increased its stake in shares of Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after buying an additional 2,230 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $379.65, for a total transaction of $2,230,443.75. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,760,809.10. The trade was a 27.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $381.35, for a total value of $773,377.80. Following the sale, the general counsel owned 18,404 shares in the company, valued at approximately $7,018,365.40. The trade was a 9.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 104,537 shares of company stock valued at $37,540,837 over the last ninety days. 0.12% of the stock is currently owned by insiders.

Visa Trading Down 0.2%

NYSE:V opened at $374.46 on Monday. The stock has a market capitalization of $668.20 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.01 and a beta of 0.76. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $385.57. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $363.63 and a 200 day moving average of $333.40.

Visa (NYSE:V) last released its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The company had revenue of $11.63 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period last year, the business earned $2.98 EPS. Visa’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 13.16 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 11th. Visa’s payout ratio is presently 22.79%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $432.00 price objective (up from $412.00) on shares of Visa in a research note on Thursday, July 30th. Sanford C. Bernstein reissued an “outperform” rating and set a $450.00 target price on shares of Visa in a research report on Tuesday, June 2nd. BMO Capital Markets boosted their price target on shares of Visa from $387.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $430.00 price target (up from $394.00) on shares of Visa in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $466.00 price objective (up from $412.00) on shares of Visa in a research note on Monday, August 31st. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $416.62.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.