NorthCrest Asset Manangement LLC Purchases 2,144 Shares of Visa Inc. $V

Key Points

• NorthCrest Asset Management LLC increased its holdings in Visa Inc. by 5.4% in Q2, acquiring an additional 2,144 shares for a total of 42,194 shares valued at approximately $15.14 million.
• Visa recently reported $2.98 EPS for the quarter, exceeding expectations, with a revenue of $10.17 billion, a 14.3% year-over-year increase.
• The company announced a quarterly dividend of $0.59, resulting in an annualized dividend of $2.36 and a yield of 0.7%.

NorthCrest Asset Manangement LLC grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,194 shares of the credit-card processor's stock after acquiring an additional 2,144 shares during the period. NorthCrest Asset Manangement LLC's holdings in Visa were worth $15,142,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in V. Keystone Global Partners LLC acquired a new position in Visa during the 1st quarter worth $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa in the 1st quarter worth about $27,000. 1 North Wealth Services LLC bought a new position in shares of Visa in the 1st quarter worth about $38,000. Anderson Financial Strategies LLC bought a new position in shares of Visa in the 1st quarter worth about $53,000. Finally, O Brien Wealth Partners LLC bought a new position in shares of Visa in the 1st quarter worth about $54,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on V shares. 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. Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. 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. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Truist Financial reduced their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Visa Trading Up 1.2%

Shares of Visa stock traded up $3.89 during trading on Friday, hitting $342.07. The stock had a trading volume of 13,657,860 shares, compared to its average volume of 4,986,314. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $626.94 billion, a PE ratio of 33.41, a P/E/G ratio of 2.25 and a beta of 0.92. The stock has a 50 day simple moving average of $345.70 and a 200 day simple moving average of $346.41. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the previous year, the company earned $2.42 earnings per share. The company's revenue was up 14.3% compared to the same quarter last year. On average, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, 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. 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.