CX Institutional Acquires 1,972 Shares of Visa Inc. $V

Key Points

• CX Institutional increased its holdings in Visa Inc. by 3.3%, owning a total of 61,760 shares valued at approximately $21.93 million after acquiring an additional 1,972 shares in the second quarter.
• Visa reported quarterly earnings of $2.98 per share, surpassing estimates, with revenue reaching $10.17 billion, a 14.3% year-over-year increase.
• The company declared a quarterly dividend of $0.59 per share, equivalent to an annualized dividend of $2.36 and a dividend yield of 0.7%.

CX Institutional lifted its holdings in Visa Inc. (NYSE:V - Free Report) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,760 shares of the credit-card processor's stock after acquiring an additional 1,972 shares during the period. CX Institutional's holdings in Visa were worth $21,928,000 at the end of the most recent reporting period.

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

Visa Trading Up 0.7%

Shares of V stock opened at $337.15 on Friday. Visa Inc. has a 1 year low of $272.78 and a 1 year high of $375.51. 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 stock's 50 day simple moving average is $344.65 and its two-hundred day simple moving average is $346.35. The company has a market cap of $617.93 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92.

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 the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.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 business posted $2.42 earnings per share. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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 was Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% 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.

Analyst Ratings Changes

V has been the subject of a number of research reports. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating for the company. UBS Group reissued a "buy" rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $385.96.

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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