Okabena Investment Services Inc. Raises Stock Holdings in Visa Inc. $V

Key Points

• Okabena Investment Services Inc. increased its stake in Visa by 44.3%, bringing its holdings to 7,692 shares worth approximately $2.7 million.
• Visa's CEO recently sold 8,630 shares at an average price of $353.82, significantly reducing his ownership by 94.14%.
• The company announced a quarterly dividend of $0.59 per share, with a dividend yield of 0.7% and a payout ratio of 23.05%.

Okabena Investment Services Inc. boosted its position in Visa Inc. (NYSE:V - Free Report) by 44.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,692 shares of the credit-card processor's stock after purchasing an additional 2,362 shares during the quarter. Okabena Investment Services Inc.'s holdings in Visa were worth $2,696,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after buying an additional 4,817 shares during the last quarter. Voleon Capital Management LP bought a new position in Visa during the 4th quarter valued at approximately $2,261,000. Bridgewealth Advisory Group LLC bought a new position in Visa during the 4th quarter valued at approximately $241,000. Finally, Navigoe LLC purchased a new position in Visa during the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated 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 directly owned 11,925 shares in the company, valued at $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 have sold 77,127 shares of company stock valued at $28,340,553 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

V opened at $350.72 on Thursday. The company's 50-day simple moving average is $347.87 and its two-hundred day simple moving average is $347.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $642.80 billion, a P/E ratio of 34.25, a P/E/G ratio of 2.34 and a beta of 0.94. Visa Inc. has a 52-week low of $267.67 and a 52-week high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 earnings per share. As a group, analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued 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 of this dividend is Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on V. Barclays reissued an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. The Goldman Sachs Group started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $380.84.

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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