Fishman Jay A Ltd. MI Raises Stake in Visa Inc. $V

Key Points

• Fishman Jay A Ltd. MI has increased its stake in Visa Inc. by 1.3%, now holding 107,794 shares valued at approximately $38.27 million.
• Visa announced a quarterly dividend of $0.59, reflecting an annualized dividend of $2.36 and a dividend yield of 0.7%.
• Analysts have a consensus rating of "Moderate Buy" on Visa, with an average price target of $389.00 and recommendations ranging from "Strong Buy" to "Hold".

Fishman Jay A Ltd. MI boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,794 shares of the credit-card processor's stock after acquiring an additional 1,365 shares during the quarter. Visa comprises about 3.7% of Fishman Jay A Ltd. MI's investment portfolio, making the stock its 10th biggest holding. Fishman Jay A Ltd. MI's holdings in Visa were worth $38,272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Lakeridge Wealth Management LLC raised its holdings in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after buying an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after buying an additional 57,800 shares during the period. Precedent Wealth Partners LLC raised its holdings in Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock worth $564,000 after buying an additional 111 shares during the period. Consilium Wealth Advisory LLC acquired a new stake in Visa during the 2nd quarter worth about $862,000. Finally, Iron Gate Global Advisors LLC raised its holdings in Visa by 5.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock worth $22,040,000 after buying an additional 3,484 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on V. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. UBS Group restated a "buy" rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays restated an "overweight" rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 target price on the stock. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $389.00.

Visa Trading Down 0.3%

NYSE:V opened at $351.31 on Thursday. The stock has a market cap of $643.88 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 2.09 and a beta of 0.90. The stock's 50-day moving average is $343.66 and its two-hundred day moving average is $346.96. Visa Inc. has a fifty-two week low of $274.42 and a fifty-two week 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.

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

Visa Dividend Announcement

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value 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 approximately $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business'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 of the company's stock, 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. Insiders own 0.13% of the company's stock.

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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