Surience Private Wealth LLC Acquires New Position in Visa Inc. $V

Key Points

• Surience Private Wealth LLC has acquired a new position in Visa Inc. during Q2, purchasing 11,211 shares worth approximately $3.98 million, making it the firm's 10th largest position.
• Visa's quarterly earnings surpassed expectations with earnings per share of $2.98, and reported a revenue of $10.17 billion, showing a 14.3% increase year-over-year.
• A number of analysts have recently upgraded Visa's rating, with price targets ranging from $391.00 to $425.00, indicating a general bullish sentiment towards the stock.

Surience Private Wealth LLC bought a new position in Visa Inc. (NYSE:V - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,211 shares of the credit-card processor's stock, valued at approximately $3,980,000. Visa makes up approximately 3.7% of Surience Private Wealth LLC's investment portfolio, making the stock its 10th biggest position.

A number of other large investors have also made changes to their positions in V. Keystone Global Partners LLC purchased a new position in shares of Visa during the 1st quarter worth $26,000. von Borstel & Associates Inc. acquired a new stake in Visa during the first quarter worth about $27,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter worth about $28,000. Cranbrook Wealth Management LLC raised its stake in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after purchasing an additional 41 shares during the period. Finally, 1 North Wealth Services LLC acquired a new position in Visa in the 1st quarter valued at about $38,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, Barclays restated an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction 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 owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% 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, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction 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 sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Visa Stock Performance

Shares of Visa stock opened at $335.09 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $614.15 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. The business has a 50-day moving average of $344.89 and a 200 day moving average of $346.22. Visa Inc. has a 12 month low of $270.00 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (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 for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the prior year, the company earned $2.42 earnings per share. The business's quarterly revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

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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