Friedenthal Financial Invests $969,000 in Visa Inc. $V

Key Points

• Friedenthal Financial has acquired a new stake in Visa Inc., purchasing 2,730 shares valued at approximately $969,000 in the second quarter.
• Visa reported a 14.3% year-over-year increase in quarterly revenue, totaling $10.17 billion, with an earnings per share (EPS) of $2.98, exceeding estimates.
• Visa recently declared a quarterly dividend of $0.59, reflecting an annualized dividend of $2.36 at a yield of 0.7%.

Friedenthal Financial bought a new stake in Visa Inc. (NYSE:V - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,730 shares of the credit-card processor's stock, valued at approximately $969,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Brighton Jones LLC grew its position in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Visa by 9.9% in the 1st quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor's stock valued at $14,761,000 after acquiring an additional 3,795 shares during the last quarter. McElhenny Sheffield Capital Management LLC lifted its holdings in Visa by 130.9% in the 1st quarter. McElhenny Sheffield Capital Management LLC now owns 2,415 shares of the credit-card processor's stock valued at $846,000 after acquiring an additional 1,369 shares during the last quarter. Finally, May Barnhard Investments LLC lifted its holdings in Visa by 22.9% in the 1st quarter. May Barnhard Investments LLC now owns 1,489 shares of the credit-card processor's stock valued at $522,000 after acquiring an additional 277 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Price Performance

V stock opened at $343.63 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a one year low of $275.37 and a one year high of $375.51. The firm has a market capitalization of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.06 and a beta of 0.90. The firm has a 50-day moving average of $343.77 and a two-hundred day moving average of $346.97.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis 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%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on V shares. Robert W. Baird set a $410.00 price target on shares of Visa and gave the company an "outperform" rating in a report on Monday. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. Oppenheimer upped their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Barclays reissued an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. One equities research 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $389.00.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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 $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.