Cloud Capital Management LLC Takes Position in Visa Inc. (NYSE:V)

Cloud Capital Management LLC bought a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,768 shares of the credit-card processor's stock, valued at approximately $970,000. Visa comprises 0.7% of Cloud Capital Management LLC's investment portfolio, making the stock its 28th largest position.

Several other hedge funds have also added to or reduced their stakes in the company. Argentarii LLC boosted its stake in shares of Visa by 12.9% during the 1st quarter. Argentarii LLC now owns 12,714 shares of the credit-card processor's stock worth $4,456,000 after acquiring an additional 1,452 shares during the period. Atlantic Edge Private Wealth Management LLC increased its holdings in Visa by 5.7% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 914 shares of the credit-card processor's stock worth $320,000 after purchasing an additional 49 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in shares of Visa by 48.9% in the first quarter. McGlone Suttner Wealth Management Inc. now owns 1,330 shares of the credit-card processor's stock valued at $466,000 after buying an additional 437 shares during the period. Capital & Planning LLC increased its stake in shares of Visa by 25.1% in the first quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor's stock valued at $416,000 after buying an additional 238 shares during the period. Finally, Riggs Asset Managment Co. Inc. boosted its position in shares of Visa by 1.8% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 30,385 shares of the credit-card processor's stock valued at $10,649,000 after purchasing an additional 535 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Trading Up 0.3%

Shares of Visa stock traded up $1.17 on Wednesday, reaching $355.72. 655,609 shares of the company's stock were exchanged, compared to its average volume of 6,813,189. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The firm's 50-day moving average is $356.43 and its two-hundred day moving average is $342.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $656.35 billion, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 2.42 and a beta of 0.92.

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

Visa Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa's dividend payout ratio (DPR) is presently 23.72%.

Analyst Upgrades and Downgrades

V has been the subject of several analyst reports. Evercore ISI began coverage on Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Oppenheimer lifted their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group boosted their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.84.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock valued at $36,771,200 over the last ninety days. Company 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.