Advisory Solutions Group LLC Invests $2.93 Million in Visa Inc. $V

Key Points

• Advisory Solutions Group LLC purchased 8,531 Visa shares worth approximately $2.93 million, making Visa about 1% of its portfolio. Institutional investors collectively own 82.15% of Visa.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $416.62. Recent targets range from $430 to $466.
• Visa reported quarterly EPS of $3.32 and revenue of $11.63 billion, exceeding estimates, while revenue increased 14.4% year over year. The company also declared a quarterly dividend of $0.67 per share, representing a 0.7% annualized yield.

Advisory Solutions Group LLC purchased a new stake in shares of Visa Inc. (NYSE:V - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,531 shares of the credit-card processor's stock, valued at approximately $2,927,000. Visa makes up about 1.0% of Advisory Solutions Group LLC's portfolio, making the stock its 24th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of V. XXEC Inc. lifted its holdings in Visa by 153,118.8% during the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor's stock valued at $63,904,097,000 after purchasing an additional 186,138,883 shares in the last quarter. State Street Corp boosted its holdings in Visa by 0.8% in the 4th quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor's stock worth $29,038,140,000 after buying an additional 626,821 shares during the last quarter. Geode Capital Management LLC increased its stake in Visa by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor's stock worth $15,411,395,000 after buying an additional 388,996 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Visa by 1.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor's stock worth $14,411,480,000 after buying an additional 716,218 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Visa by 1.7% during the fourth quarter. Bank of America Corp DE now owns 23,835,336 shares of the credit-card processor's stock valued at $8,359,291,000 after acquiring an additional 398,459 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insiders Place Their Bets

In related news, insider Tullier Mahon sold 57,272 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider directly owned 49,662 shares of the company's stock, valued at approximately $18,125,140.14. This represents a 53.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $379.65, for a total value of $2,230,443.75. Following the transaction, the chief executive officer owned 15,174 shares of the company's stock, valued at $5,760,809.10. This represents a 27.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 104,537 shares of company stock worth $37,540,837. Corporate insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on V. Sanford C. Bernstein reiterated an "outperform" rating and issued a $450.00 price objective on shares of Visa in a report on Tuesday, June 2nd. TD Cowen reaffirmed a "buy" rating on shares of Visa in a research report on Wednesday, July 29th. Citigroup reissued a "buy" rating and set a $440.00 target price (up from $400.00) on shares of Visa in a research note on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $466.00 price target (up from $412.00) on shares of Visa in a research report on Monday, August 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $430.00 price objective on shares of Visa in a research note on Wednesday, July 29th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $416.62.

Visa Stock Performance

Shares of V opened at $374.46 on Friday. The company's 50 day simple moving average is $363.63 and its 200-day simple moving average is $333.27. The firm has a market cap of $668.20 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.01 and a beta of 0.76. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $385.57. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period last year, the business posted $2.98 EPS. The company's revenue was up 14.4% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 13.16 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were given a $0.67 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio is presently 22.79%.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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