Fulton Breakefield Broenniman LLC Has $31.88 Million Stock Position in Visa Inc. (NYSE:V)

Fulton Breakefield Broenniman LLC lessened its position in shares of Visa Inc. (NYSE:V) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,943 shares of the credit-card processor’s stock after selling 2,090 shares during the period. Visa makes up approximately 2.2% of Fulton Breakefield Broenniman LLC’s investment portfolio, making the stock its 14th largest position. Fulton Breakefield Broenniman LLC’s holdings in Visa were worth $31,879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westend Capital Management LLC bought a new stake in Visa during the first quarter worth $25,000. POM Investment Strategies LLC boosted its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. TruNorth Capital Management LLC grew its position in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in Visa during the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Visa in the second quarter worth about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 2.9 %

Visa stock opened at $287.51 on Thursday. The firm has a market capitalization of $525.83 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. 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 1-year low of $228.03 and a 1-year high of $293.07. The firm’s fifty day moving average price is $275.69 and its two-hundred day moving average price is $272.74.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the firm posted $2.16 EPS. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s payout ratio is presently 23.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Royal Bank of Canada cut their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 target price on shares of Visa in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.81.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.