Pasadena Private Wealth LLC Takes $380,000 Position in Visa Inc. (NYSE:V)

Key Points

• Pasadena Private Wealth LLC acquired 1,085 shares of Visa Inc., valued at approximately $380,000, in the first quarter of this year.
• Several institutional investors, including GAMMA Investing LLC and Northern Trust Corp, significantly increased their stakes in Visa, indicating strong institutional confidence in the company.
• Visa's recent quarterly earnings surpassed expectations with an EPS of $2.98, and it announced a quarterly dividend of $0.59 per share, reflecting a stable financial outlook.

Pasadena Private Wealth LLC bought a new stake in Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,085 shares of the credit-card processor's stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capital International Investors increased its stake in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the last quarter. Capital World Investors boosted its holdings in Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after purchasing an additional 241,057 shares during the period. Northern Trust Corp boosted its holdings in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the period. GAMMA Investing LLC boosted its holdings in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Visa by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock worth $4,210,207,000 after buying an additional 1,723,785 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Down 1.9%

Shares of Visa stock traded down $6.66 during trading hours on Friday, reaching $338.81. 8,655,366 shares of the company's stock were exchanged, compared to its average volume of 5,746,410. Visa Inc. has a 52-week low of $254.51 and a 52-week high of $375.51. The firm has a market capitalization of $625.16 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.30 and a beta of 0.94. The company has a fifty day moving average of $355.06 and a 200-day moving average of $346.34. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 EPS. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the transaction, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,913 shares of company stock valued at $32,902,432. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on V. BMO Capital Markets lifted their price target on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Jefferies Financial Group boosted their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. Finally, Evercore ISI started coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $380.84.

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.