793 Shares in Visa Inc. $V Purchased by Armstrong Fleming & Moore Inc

Key Points

• Armstrong Fleming & Moore Inc acquired 793 shares of Visa Inc. for about $282,000 during Q2, reflecting a growing interest from institutional investors.
• Visa's CEO, Ryan Mcinerney, sold 10,485 shares, reducing his ownership by over 95%, while the company recently reported $2.98 earnings per share, surpassing expectations.
• Analysts remain optimistic, with a consensus rating of "Moderate Buy" and an average target price of $389.00 for Visa shares.

Armstrong Fleming & Moore Inc purchased a new position in Visa Inc. (NYSE:V - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 793 shares of the credit-card processor's stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allegiance Financial Group Advisory Services LLC boosted its holdings in shares of Visa by 5.2% in the 2nd quarter. Allegiance Financial Group Advisory Services LLC now owns 2,644 shares of the credit-card processor's stock worth $939,000 after buying an additional 131 shares during the last quarter. Hager Investment Management Services LLC boosted its holdings in shares of Visa by 3.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 5,459 shares of the credit-card processor's stock worth $1,938,000 after buying an additional 176 shares during the last quarter. Values Added Financial LLC boosted its holdings in shares of Visa by 18.8% in the 2nd quarter. Values Added Financial LLC now owns 2,919 shares of the credit-card processor's stock worth $1,036,000 after buying an additional 461 shares during the last quarter. Cornerstone Enterprises LLC purchased a new position in shares of Visa in the 2nd quarter worth about $4,026,000. Finally, Cohen Investment Advisors LLC boosted its holdings in shares of Visa by 1.2% in the 2nd quarter. Cohen Investment Advisors LLC now owns 13,512 shares of the credit-card processor's stock worth $4,797,000 after buying an additional 166 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's 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 transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Trading Down 1.0%

Shares of V opened at $343.63 on Monday. The business's 50-day moving average price is $343.77 and its 200-day moving average price is $346.97. Visa Inc. has a twelve month low of $275.37 and a twelve month high of $375.51. The stock has a market cap of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.03 and a beta of 0.90. 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 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the prior year, the business posted $2.42 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is presently 23.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Oppenheimer boosted their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. UBS Group restated a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $389.00.

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.

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