Donoghue Forlines LLC Purchases New Position in Visa Inc. (NYSE:V)

Key Points

• Donoghue Forlines LLC acquired a new stake in Visa Inc., purchasing 6,764 shares valued at approximately $2.37 million, making Visa their 21st largest holding.
• Visa's stock price target has been raised by multiple analysts, with Mizuho upgrading it to $425.00, signaling strong confidence in the company's performance.
• CEO Ryan Mcinerney significantly reduced his ownership by selling 8,630 shares, a move that followed other insiders selling a total of 75,100 shares in recent months.

Donoghue Forlines LLC bought a new stake in Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,764 shares of the credit-card processor's stock, valued at approximately $2,371,000. Visa accounts for 0.8% of Donoghue Forlines LLC's holdings, making the stock its 21st largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its stake in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its stake in Visa by 5.8% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 4,177 shares of the credit-card processor's stock valued at $1,320,000 after purchasing an additional 230 shares in the last quarter. Solano Wealth Investment Advisors LLC bought a new stake in Visa in the fourth quarter valued at $412,000. Finally, Jaffetilchin Investment Partners LLC increased its stake in Visa by 3.7% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 20,304 shares of the credit-card processor's stock valued at $6,417,000 after purchasing an additional 729 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on V. Oppenheimer lifted their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group boosted their target price 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. UBS Group reissued a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. William Blair reissued an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Stock Performance

V traded up $0.90 during midday trading on Tuesday, reaching $336.80. The company had a trading volume of 5,682,507 shares, compared to its average volume of 6,634,964. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $617.28 billion, a PE ratio of 32.89, a P/E/G ratio of 2.25 and a beta of 0.94. Visa Inc. has a 12-month low of $258.74 and a 12-month high of $375.51. The business has a 50-day moving average price of $352.21 and a two-hundred day moving average price of $347.30.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for 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%. The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,100 shares of company stock worth $27,643,224. Corporate insiders own 0.13% of the company's stock.

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.