IronOak Wealth LLC. acquired a new stake in Visa Inc. (NYSE:V - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,027 shares of the credit-card processor's stock, valued at approximately $1,785,000. Visa makes up approximately 1.7% of IronOak Wealth LLC.'s portfolio, making the stock its 23rd biggest position.
Other large investors also recently bought and sold shares of the company. Lakeridge Wealth Management LLC grew its position in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after acquiring an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after acquiring an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC grew its position in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after acquiring an additional 3,484 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. Finally, Yeomans Consulting Group Inc. grew its position in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on V shares. Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Citigroup started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. UBS Group reissued a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $385.96.
Get Our Latest Analysis on V
Insiders Place Their Bets
In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction 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 transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on 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. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.
Visa Price Performance
Shares of V opened at $338.66 on Wednesday. The firm has a market capitalization of $620.70 billion, a price-to-earnings ratio of 33.07, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The stock's fifty day moving average is $345.41 and its 200-day moving average is $346.32.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $2.42 earnings per share. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
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 dividend of $0.59 per share. 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 (DPR) is 23.05%.
About Visa
(
Free Report)
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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