854 Shares in Visa Inc. $V Purchased by SilverOak Wealth Management LLC

Key Points

• SilverOak Wealth Management LLC has acquired a new position in Visa Inc., purchasing 854 shares valued at approximately $303,000 in the second quarter.
• Visa reported $2.98 earnings per share for the latest quarter, exceeding analysts' expectations, and had a revenue increase of 14.3% compared to the previous year.
• The company recently announced a quarterly dividend of $0.59, representing an annualized yield of 0.7% and a payout ratio of 23.05%.

SilverOak Wealth Management LLC bought a new position in Visa Inc. (NYSE:V - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 854 shares of the credit-card processor's stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after buying an additional 1,677,088 shares in the last quarter. Northern Trust Corp lifted its position in shares of Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after buying an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after buying an additional 955,392 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after buying an additional 434,217 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after buying an additional 1,651,954 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Up 0.7%

Visa stock opened at $344.44 on Tuesday. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51. The firm has a market capitalization of $631.28 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 2.03 and a beta of 0.90. 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 firm has a 50 day simple moving average of $344.47 and a 200 day simple moving average of $347.11.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the business earned $2.42 EPS. Visa's revenue was up 14.3% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on V. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. UBS Group restated a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $389.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.