Phoenix Financial Ltd. Increases Holdings in Visa Inc. $V

Phoenix Financial Ltd. boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 23.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,738 shares of the credit-card processor's stock after purchasing an additional 12,324 shares during the period. Phoenix Financial Ltd.'s holdings in Visa were worth $22,937,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Keystone Global Partners LLC purchased a new position in shares of Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa during the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa during the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. purchased a new position in shares of Visa during the 2nd quarter worth approximately $29,000. Finally, Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price on the stock. UBS Group reiterated a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Robert W. Baird set a $410.00 price target on Visa and gave the stock an "outperform" rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and an average target price of $392.75.

Visa Stock Performance

V stock opened at $345.10 on Thursday. The stock has a market capitalization of $632.50 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock's 50 day simple moving average is $344.72 and its 200 day simple moving average is $347.09.

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 (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 EPS. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following 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. Corporate insiders own 0.13% of the company's stock.

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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