1,156 Shares in Visa Inc. $V Acquired by Quarry LP

Key Points

• Quarry LP has acquired a new position in Visa Inc., purchasing 1,156 shares worth approximately $405,000 in the first quarter.
• Visa reported earnings of $2.98 per share for the last quarter, exceeding analysts' expectations of $2.85, alongside a net revenue of $10.17 billion.
• The company declared a quarterly dividend of $0.59 per share with a yield of 0.7%, payable on September 2nd.

Quarry LP bought a new position in Visa Inc. (NYSE:V - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,156 shares of the credit-card processor's stock, valued at approximately $405,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lakeridge Wealth Management LLC boosted its stake in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after buying an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after buying an additional 57,800 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in Visa by 7.7% in the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock worth $192,948,000 after buying an additional 43,546 shares in the last quarter. FJ Capital Management LLC purchased a new stake in Visa in the fourth quarter worth approximately $283,000. Finally, Yeomans Consulting Group Inc. boosted its stake in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of V stock opened at $351.92 on Monday. The stock has a fifty day moving average of $348.35 and a 200 day moving average of $347.36. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The firm has a market capitalization of $645.00 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 2.34 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is 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 presently 23.05%.

Analyst Ratings Changes

Several analysts have issued reports on V shares. Macquarie upped their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Jefferies Financial Group raised their target price on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on 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 owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,507 shares of company stock valued at $25,213,475 over the last quarter. 0.13% of the stock is owned by company 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.

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