IFC Advisors LLC Boosts Stock Holdings in Visa Inc. $V

IFC Advisors LLC raised its holdings in Visa Inc. (NYSE:V - Free Report) by 48.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,587 shares of the credit-card processor's stock after purchasing an additional 2,468 shares during the period. IFC Advisors LLC's holdings in Visa were worth $2,694,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of V. Keystone Global Partners LLC purchased a new position in Visa during the first quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new position in Visa during the first quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC purchased a new position in Visa during the second quarter valued at approximately $28,000. Cranbrook Wealth Management LLC grew 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 acquiring an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC purchased a new position in Visa during the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

V has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft began 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. Robert W. Baird set a $410.00 target price on shares of Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Macquarie lifted their target price on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Barclays reiterated an "overweight" rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $389.00.

Visa Trading Up 1.9%

Shares of Visa stock opened at $341.90 on Friday. The firm has a market cap of $626.63 billion, a PE ratio of 33.39, a PEG ratio of 2.02 and a beta of 0.90. 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 Inc. has a 1 year low of $280.78 and a 1 year high of $375.51. The company has a 50 day simple moving average of $344.30 and a two-hundred day simple moving average of $346.83.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm 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 previous year, the business posted $2.42 EPS. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business's 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 in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 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 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 ownership of the stock. The disclosure for this sale can be found here. 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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

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.