Northside Capital Management LLC Buys 28,850 Shares of Visa Inc. $V

Key Points

• Northside Capital Management LLC increased its stake in Visa Inc. by 203.2%, acquiring an additional 28,850 shares, bringing its total holdings to 43,047 shares valued at approximately $15.28 million.
• Visa recently reported a quarterly earnings per share (EPS) of $2.98, surpassing estimates, and an annual revenue increase of 14.3% year-over-year, with revenue totaling $10.17 billion.
• The company declared a quarterly dividend of $0.59 per share, reflecting an annualized yield of 0.7%, with a dividend payout ratio of 23.05%.

Northside Capital Management LLC grew its stake in Visa Inc. (NYSE:V - Free Report) by 203.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,047 shares of the credit-card processor's stock after buying an additional 28,850 shares during the period. Visa makes up about 1.2% of Northside Capital Management LLC's holdings, making the stock its 23rd biggest holding. Northside Capital Management LLC's holdings in Visa were worth $15,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Yeomans Consulting Group Inc. grew its position in Visa by 2.9% during 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 during the last quarter. Semus Wealth Partners LLC grew its holdings in shares of Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after purchasing an additional 29 shares during the last quarter. Kennebec Savings Bank raised its position in Visa by 0.9% in the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after purchasing an additional 30 shares during the period. Capital Advisors Ltd. LLC lifted its stake in Visa by 0.8% in the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock worth $1,345,000 after purchasing an additional 30 shares during the last quarter. Finally, Wood Tarver Financial Group LLC lifted its stake in 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 purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of V stock opened at $335.09 on Friday. The firm has a market capitalization of $614.15 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.25 and a beta of 0.92. The stock has a fifty day moving average of $344.89 and a 200 day moving average of $346.22. Visa Inc. has a 52 week low of $270.00 and a 52 week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the business earned $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts expect 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 paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.

Analysts Set New Price Targets

V has been the topic of several analyst reports. Truist Financial decreased their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Citigroup assumed coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Macquarie boosted their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Finally, Barclays reiterated an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Insider Activity

In other news, 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 value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a legal filing 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 that occurred 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 completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

About Visa

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.