Mainstay Capital Management LLC ADV Increases Stock Position in Visa Inc. $V

Key Points

• Mainstay Capital Management LLC ADV increased its holdings in Visa Inc. by 104.6% during the second quarter, owning a total of 12,020 shares valued at approximately $4.27 million.
• Visa reported earnings of $2.98 per share for the last quarter, exceeding consensus estimates, while their revenue grew by 14.3% year-over-year to $10.17 billion.
• Aquarterly dividend of $0.59 per share was declared recently, reflecting a 0.7% dividend yield and a payout ratio of 23.05%.

Mainstay Capital Management LLC ADV lifted its holdings in Visa Inc. (NYSE:V - Free Report) by 104.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,020 shares of the credit-card processor's stock after purchasing an additional 6,146 shares during the period. Mainstay Capital Management LLC ADV's holdings in Visa were worth $4,268,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of V. Yeomans Consulting Group Inc. increased its stake in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC increased its stake in shares of Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after acquiring an additional 29 shares during the period. BankPlus Wealth Management LLC increased its stake in shares of Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock worth $1,185,000 after acquiring an additional 29 shares during the period. Wood Tarver Financial Group LLC increased its stake in shares of Visa by 11.1% in the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock worth $105,000 after acquiring an additional 30 shares during the period. Finally, Synergy Investment Management LLC increased its stake in shares of Visa by 5.3% in the first quarter. Synergy Investment Management LLC now owns 597 shares of the credit-card processor's stock worth $209,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of NYSE V opened at $343.63 on Monday. The company's fifty day moving average price is $343.77 and its 200 day moving average price is $346.97. Visa Inc. has a 1 year low of $275.37 and a 1 year high of $375.51. The company has a market capitalization of $629.79 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. 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 (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the firm posted $2.42 earnings per share. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. On average, research analysts predict 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. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is 23.05%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays reiterated an "overweight" rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $389.00.

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.

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