Cloud Capital Management LLC Purchases New Holdings in Visa Inc. (NYSE:V)

Cloud Capital Management LLC bought a new position in shares of Visa Inc. (NYSE:V - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,768 shares of the credit-card processor's stock, valued at approximately $970,000. Visa comprises approximately 0.7% of Cloud Capital Management LLC's portfolio, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Visa in the fourth quarter worth $5,171,271,000. GAMMA Investing LLC lifted its stake in Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Vanguard Group Inc. raised its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Visa in the fourth quarter valued at approximately $673,689,000. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on V shares. Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Truist Financial initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price target for the company. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. UBS Group boosted their price objective on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $372.84.

Insider Activity

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 sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 in the last quarter. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

Shares of Visa stock traded down $8.17 during trading hours on Friday, hitting $347.71. 7,577,927 shares of the company's stock traded hands, compared to its average volume of 6,821,741. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $641.58 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.41 and a beta of 0.92. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company has a fifty day simple moving average of $356.93 and a 200-day simple moving average of $342.37.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations 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 period in the prior year, the firm earned $2.51 earnings per share. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa's dividend payout ratio is currently 23.72%.

Visa 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.