Cannon Advisors Inc. Acquires New Holdings in Visa Inc. (NYSE:V)

Cannon Advisors Inc. purchased a new position in Visa Inc. (NYSE:V - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,301 shares of the credit-card processor's stock, valued at approximately $806,000.

Several other institutional investors and hedge funds also recently modified their holdings of V. Sellwood Investment Partners LLC bought a new position in Visa during the fourth quarter valued at about $41,000. Mountain Hill Investment Partners Corp. bought a new position in Visa during the fourth quarter valued at about $47,000. Measured Risk Portfolios Inc. bought a new position in Visa during the fourth quarter valued at about $47,000. Navigoe LLC bought a new position in Visa during the fourth quarter valued at about $53,000. Finally, O Brien Wealth Partners LLC bought a new position in Visa during the first quarter valued at about $54,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Down 0.6%

Shares of V traded down $2.21 during midday trading on Tuesday, reaching $354.43. 6,964,583 shares of the stock were exchanged, compared to its average volume of 6,837,239. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm has a 50 day simple moving average of $356.43 and a 200-day simple moving average of $342.00. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $653.98 billion, a price-to-earnings ratio of 35.62, a P/E/G ratio of 2.42 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the business earned $2.51 EPS. The business's quarterly revenue was up 9.3% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm'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 directly owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 in the last three months. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research note on Friday, March 21st. Jefferies Financial Group increased their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. UBS Group increased their price target on Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and increased their price target for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $372.84.

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.