Callan Family Office LLC Acquires 64,351 Shares of Visa Inc. $V

Key Points

• Callan Family Office LLC boosted its Visa shares by 155% in Q2, acquiring an additional 64,351 shares, bringing its total holdings to 105,875 shares, valued at around $37.6 million.
• Several analysts have increased their target prices for Visa, with UBS setting it at $415 and Barclays at $408, reflecting positive outlooks amidst Visa's recent strong earnings report.
• Visa recently declared a quarterly dividend of $0.59, translating to an annual yield of 0.7%, indicating a consistent return to shareholders.

Callan Family Office LLC increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 155.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 105,875 shares of the credit-card processor's stock after buying an additional 64,351 shares during the quarter. Visa accounts for about 1.2% of Callan Family Office LLC's holdings, making the stock its 11th biggest holding. Callan Family Office LLC's holdings in Visa were worth $37,591,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lakeridge Wealth Management LLC lifted its position in shares of Visa by 5.7% during the 1st 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 during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Visa by 14.5% during the 1st 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 during the last quarter. Precedent Wealth Partners LLC lifted its position in shares of Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock worth $564,000 after buying an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC bought a new stake in shares of Visa during the 2nd quarter worth $862,000. Finally, Iron Gate Global Advisors LLC lifted its position in shares of Visa by 5.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock worth $22,040,000 after buying an additional 3,484 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays restated an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Oppenheimer increased their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Morgan Stanley increased their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. UBS Group reiterated a "buy" rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Macquarie increased their target price on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $389.00.

Visa Trading Down 1.0%

Shares of V stock opened at $343.63 on Monday. The stock has a market cap of $629.79 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.03 and a beta of 0.90. The stock has a 50-day moving average of $343.77 and a 200-day moving average of $346.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 1-year low of $275.37 and a 1-year high of $375.51.

Visa (NYSE:V - Get Free Report) last issued 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. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. 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 dividend payout ratio is presently 23.05%.

Insider Activity

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

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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