Concord Asset Management LLC VA Grows Position in Visa Inc. $V

Key Points

• Concord Asset Management LLC VA increased its stake in Visa by 26.7% in Q2, owning 9,295 shares worth $3.3 million.
• Visa reported a Q2 EPS of $2.98, beating expectations, with revenue hitting $10.17 billion, up 14.3% year-over-year.
• Several analysts upgraded their ratings on Visa, with UBS raising the price target to $415.00, while the consensus rating is a "Moderate Buy."

Concord Asset Management LLC VA boosted its stake in Visa Inc. (NYSE:V - Free Report) by 26.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,295 shares of the credit-card processor's stock after purchasing an additional 1,959 shares during the quarter. Concord Asset Management LLC VA's holdings in Visa were worth $3,300,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Yeomans Consulting Group Inc. grew its holdings in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC grew its stake in Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after buying an additional 29 shares during the period. BankPlus Wealth Management LLC grew its stake in Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock worth $1,185,000 after buying an additional 29 shares during the period. Transcendent Capital Group LLC grew its stake in Visa by 2.9% during the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor's stock worth $360,000 after buying an additional 29 shares during the period. Finally, Wood Tarver Financial Group LLC grew its stake in Visa by 11.1% during the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock worth $105,000 after buying an additional 30 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. UBS Group reiterated a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, Macquarie boosted their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $389.00.

Insiders Place Their Bets

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

Visa Trading Up 1.9%

NYSE V opened at $341.90 on Friday. The company's fifty day simple moving average is $344.30 and its 200-day simple moving average is $346.83. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $626.63 billion, a P/E ratio of 33.39, a PEG ratio of 1.99 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the firm posted $2.42 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is 23.05%.

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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