Financial Gravity Asset Management Inc. Boosts Stake in Visa Inc. (NYSE:V)

Financial Gravity Asset Management Inc. boosted its holdings in Visa Inc. (NYSE:V) by 606.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 452 shares of the credit-card processor’s stock after acquiring an additional 388 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Visa were worth $119,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Hilltop National Bank acquired a new stake in shares of Visa in the 1st quarter worth approximately $1,212,000. Absolute Capital Management LLC acquired a new stake in Visa in the first quarter valued at $404,000. SageView Advisory Group LLC raised its stake in shares of Visa by 40.4% during the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock worth $6,967,000 after buying an additional 7,236 shares during the last quarter. Davidson Capital Management Inc. raised its stake in shares of Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after buying an additional 44 shares during the last quarter. Finally, Empirical Finance LLC boosted its position in shares of Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after buying an additional 1,914 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Macquarie restated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Evercore ISI decreased their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Bank of America reissued a “neutral” rating and issued a $297.00 target price (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Finally, Morgan Stanley decreased their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.54.

Visa Stock Up 0.3 %

Shares of NYSE V opened at $279.37 on Friday. The stock has a fifty day moving average price of $266.53 and a 200 day moving average price of $273.13. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The company has a market cap of $510.95 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.98 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. Research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. Visa’s payout ratio is currently 23.24%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

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.