Brooklyn Investment Group Purchases 2,959 Shares of Visa Inc. $V

Key Points

• Brooklyn Investment Group increased its stake in Visa by 24.8%, acquiring an additional 2,959 shares during the first quarter, bringing its holdings to 14,869 shares valued at approximately $5.2 million.
• Despite recent insider sales of company shares by CEO Ryan Mcinerney and others, Visa's stock remains highly rated, with 23 analysts issuing buy ratings and an average price target of $380.84.
• Visa declared a quarterly dividend of $0.59 per share to be paid on September 2nd, representing an annualized yield of 0.7%, with a payout ratio of 23.05%.

Brooklyn Investment Group boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 24.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,869 shares of the credit-card processor's stock after purchasing an additional 2,959 shares during the quarter. Visa makes up about 1.1% of Brooklyn Investment Group's investment portfolio, making the stock its 13th largest holding. Brooklyn Investment Group's holdings in Visa were worth $5,211,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new position in Visa in the first quarter worth $26,000. von Borstel & Associates Inc. acquired a new position in Visa in the first quarter worth $27,000. Measured Risk Portfolios Inc. acquired a new position in Visa in the fourth quarter worth $47,000. O Brien Wealth Partners LLC acquired a new position in Visa in the first quarter worth $54,000. Finally, Global X Japan Co. Ltd. acquired a new position in Visa in the first quarter worth $56,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Price Performance

Visa stock traded down $0.7540 during midday trading on Thursday, hitting $343.1760. The company's stock had a trading volume of 1,416,141 shares, compared to its average volume of 6,546,942. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock's 50-day moving average price is $348.54 and its 200-day moving average price is $347.39. Visa Inc. has a 12 month low of $265.31 and a 12 month high of $375.51. The company has a market capitalization of $628.97 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. 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 previous year, the business earned $2.42 earnings per share. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is 23.05%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,127 shares of company stock worth $28,340,553. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Jefferies Financial Group boosted their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Macquarie boosted their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $380.84.

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.