Visa Inc. (NYSE:V) Shares Bought by EdgeRock Capital LLC

EdgeRock Capital LLC grew its stake in Visa Inc. (NYSE:V) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,949 shares of the credit-card processor’s stock after acquiring an additional 103 shares during the quarter. EdgeRock Capital LLC’s holdings in Visa were worth $536,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Duncan Williams Asset Management LLC purchased a new stake in Visa in the first quarter valued at $1,188,000. Orrstown Financial Services Inc. raised its holdings in Visa by 2.6% in the 1st quarter. Orrstown Financial Services Inc. now owns 6,247 shares of the credit-card processor’s stock valued at $1,743,000 after buying an additional 161 shares during the period. Moody National Bank Trust Division lifted its position in Visa by 0.5% in the first quarter. Moody National Bank Trust Division now owns 28,167 shares of the credit-card processor’s stock valued at $7,861,000 after buying an additional 135 shares during the last quarter. Davis Capital Management boosted its stake in Visa by 1.8% during the first quarter. Davis Capital Management now owns 6,342 shares of the credit-card processor’s stock worth $1,765,000 after buying an additional 111 shares during the period. Finally, Capital Market Strategies LLC acquired a new stake in shares of Visa during the first quarter valued at about $210,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Visa Stock Down 0.5 %

V opened at $279.29 on Wednesday. The stock has a market capitalization of $510.80 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a one year low of $228.03 and a one year high of $293.07. The business’s 50-day simple moving average is $275.07 and its 200-day simple moving average is $272.63.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. Analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on V. Jefferies Financial Group decreased their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. TD Cowen lowered their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.81.

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.