Overbrook Management Corp Has $22.86 Million Stock Position in Visa Inc. $V

Key Points

• Overbrook Management Corp has increased its stake in Visa Inc. by 2.3%, bringing its holdings to $22.86 million, which represents approximately 4.3% of its portfolio.
• Visa's stock has received consensus ratings with one Strong Buy, twenty Buy, and five Hold ratings, resulting in an average target price of $385.96.
• The company posted a quarterly EPS of $2.98, exceeding analysts' expectations, with revenue of $10.17 billion, up 14.3% compared to the previous year.

Overbrook Management Corp increased its holdings in Visa Inc. (NYSE:V - Free Report) by 2.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 64,373 shares of the credit-card processor's stock after buying an additional 1,478 shares during the quarter. Visa comprises approximately 4.3% of Overbrook Management Corp's portfolio, making the stock its 8th biggest position. Overbrook Management Corp's holdings in Visa were worth $22,856,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Yeomans Consulting Group Inc. grew its stake in shares of 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 during the period. Semus Wealth Partners LLC grew its stake 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 period. BankPlus Wealth Management LLC grew its stake in shares of Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock valued at $1,185,000 after purchasing an additional 29 shares during the period. Kennebec Savings Bank grew its stake in shares of Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after purchasing an additional 30 shares during the period. Finally, Capital Advisors Ltd. LLC grew its stake in shares of Visa by 0.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock valued at $1,345,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Barclays reaffirmed an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Macquarie lifted 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. UBS Group reaffirmed a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Visa presently has an average rating of "Moderate Buy" and an average target price of $385.96.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred 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 sale, the general counsel directly owned 11,925 shares of the company's stock, valued at $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 available at the SEC website. 0.13% of the stock is owned by company insiders.

Visa Stock Up 0.3%

NYSE V opened at $341.34 on Wednesday. The stock's 50 day moving average is $344.23 and its 200 day moving average is $346.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12 month low of $273.24 and a 12 month high of $375.51. The stock has a market cap of $625.61 billion, a PE ratio of 33.33, a P/E/G ratio of 2.26 and a beta of 0.92.

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

Visa Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio is 23.05%.

Visa Company 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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