Cooper Financial Group Boosts Holdings in Visa Inc. $V

Key Points

• Cooper Financial Group increased its stake in Visa Inc. by 29.1%, owning 13,947 shares valued at approximately $4.95 million following the purchase of an additional 3,140 shares.
• Visa's last earnings report revealed an EPS of $2.98, exceeding expectations, with a revenue of $10.17 billion, a 14.3% increase year-over-year.
• According to analysts, Visa received multiple rating adjustments, including an upgrade to "outperform" from Mizuho, while Erste Group Bank downgraded their rating to "hold."

Cooper Financial Group lifted its stake in Visa Inc. (NYSE:V - Free Report) by 29.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,947 shares of the credit-card processor's stock after buying an additional 3,140 shares during the period. Cooper Financial Group's holdings in Visa were worth $4,952,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new position in Visa during the 1st quarter worth $26,000. von Borstel & Associates Inc. purchased a new position in Visa during the 1st quarter worth $27,000. Family Legacy Financial Solutions LLC purchased a new position in Visa during the 2nd quarter worth $28,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after buying an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC purchased a new position in shares of Visa during the first quarter worth about $38,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on V shares. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Morgan Stanley lifted their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Oppenheimer lifted their price objective 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. Truist Financial lowered 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. Finally, Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Price Performance

Shares of NYSE:V opened at $345.97 on Friday. The business's 50 day simple moving average is $343.92 and its 200-day simple moving average is $346.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $634.09 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. Visa Inc. has a 12 month low of $273.24 and a 12 month high of $375.51.

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

Visa Dividend Announcement

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

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred 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 directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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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