Visa Inc. $V Shares Bought by Empirical Asset Management LLC

by · The Cerbat Gem

Empirical Asset Management LLC grew its position in shares of Visa Inc. (NYSE:V – Free Report) by 10.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,580 shares of the credit-card processor’s stock after purchasing an additional 423 shares during the quarter. Empirical Asset Management LLC’s holdings in Visa were worth $1,626,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Keystone Global Partners LLC bought a new stake in shares of Visa during the first quarter valued at about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the first quarter valued at about $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa during the second quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa during the second quarter valued at about $29,000. Finally, Cranbrook Wealth Management LLC raised its stake in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $341.90 on Monday. 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’s 50-day moving average price is $344.30 and its two-hundred day moving average price is $346.89. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The stock has a market cap of $626.63 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90.

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

Visa Dividend Announcement

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

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. UBS Group reiterated a “buy” rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Morgan Stanley boosted their price target on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $389.00.

View Our Latest Research Report on Visa

About Visa

(Free Report)

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.

Further Reading

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