Concurrent Investment Advisors LLC Increases Stake in Visa Inc. $V

Key Points

• Concurrent Investment Advisors LLC increased its holdings in Visa Inc. by 9.8%, now owning 76,781 shares worth approximately $27.26 million.
• Recent insider trading saw General Counsel Julie B. Rottenberg and CEO Ryan Mcinerney selling shares, reducing their positions by 14.53% and 95.13% respectively.
• Visa announced a quarterly dividend of $0.59, reflecting an annualized yield of 0.7%, with a dividend payout ratio of 23.05%.

Concurrent Investment Advisors LLC increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,781 shares of the credit-card processor's stock after buying an additional 6,879 shares during the period. Concurrent Investment Advisors LLC's holdings in Visa were worth $27,261,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Keystone Global Partners LLC purchased a new stake in shares of Visa in the 1st quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the 1st quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the 2nd quarter valued at approximately $28,000. Cranbrook Wealth Management LLC increased its position in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Visa in the 1st quarter valued at approximately $38,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Robert W. Baird set a $410.00 target price on shares of Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Finally, Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $389.00.

Visa Stock Down 0.7%

Shares of NYSE:V opened at $345.81 on Thursday. The stock has a market cap of $633.80 billion, a P/E ratio of 33.77, a P/E/G ratio of 2.06 and a beta of 0.90. The firm has a fifty day moving average price of $344.14 and a 200 day moving average price of $346.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $278.35 and a 1-year high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.42 EPS. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

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.

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