Callan Family Office LLC Has $48.42 Million Stock Position in Visa Inc. $V

Key Points

• Callan Family Office increased its Visa stake by 6.6% in the second quarter, bringing its holdings to 141,136 shares valued at approximately $48.42 million. Institutional investors collectively own 82.15% of Visa.
• Visa reported quarterly EPS of $3.32 and revenue of $11.63 billion, exceeding analyst estimates, while revenue grew 14.4% year over year. The stock was trading near its 52-week high at $371.09.
• Visa announced a quarterly dividend of $0.67 per share and has a $20 billion share-repurchase authorization. Analysts maintain a consensus “Buy” rating with an average price target of $413.58.

Callan Family Office LLC boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 6.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 141,136 shares of the credit-card processor's stock after acquiring an additional 8,788 shares during the quarter. Visa makes up approximately 0.9% of Callan Family Office LLC's holdings, making the stock its 15th biggest holding. Callan Family Office LLC's holdings in Visa were worth $48,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Vanguard Group Inc. lifted its holdings in Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor's stock worth $56,455,834,000 after buying an additional 1,054,343 shares in the last quarter. State Street Corp raised its position in shares of Visa by 0.8% during the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor's stock worth $29,038,140,000 after acquiring an additional 626,821 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Visa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor's stock valued at $15,411,395,000 after acquiring an additional 388,996 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Visa by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor's stock valued at $14,411,480,000 after acquiring an additional 716,218 shares during the period. Finally, Bank of America Corp DE lifted its stake 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 period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Up 1.5%

NYSE:V opened at $371.09 on Friday. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $373.97. The business's 50-day moving average price is $353.73 and its two-hundred day moving average price is $329.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $662.18 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.96 and a beta of 0.74.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.09. The firm had revenue of $11.63 billion for the quarter, compared to analysts' expectations of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company's revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.98 earnings per share. On average, equities analysts expect that Visa Inc. will post 13.16 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 22.79%.

Visa announced that its Board of Directors has approved a stock buyback program on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on V shares. Robert W. Baird lifted their price objective on Visa from $412.00 to $420.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Evercore set a $350.00 price target on shares of Visa in a research report on Wednesday, April 29th. Citigroup reissued a "buy" rating and set a $440.00 price target (up from $400.00) on shares of Visa in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $430.00 price target on shares of Visa in a research note on Wednesday, July 29th. Finally, BMO Capital Markets increased their price objective on shares of Visa from $387.00 to $405.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $413.58.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 20,970 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $340.25, for a total value of $7,135,042.50. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,162,953.50. This trade represents a 58.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 90,759 shares of company stock worth $32,375,779. 0.12% of the stock is currently owned by company insiders.

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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