Talon Private Wealth LLC Raises Position in Visa Inc. $V

Key Points

• Talon Private Wealth LLC significantly increased its stake in Visa Inc. by 1,999.1%, owning a total of 6,927 shares valued at approximately $2.43 million after acquiring 6,597 shares in the first quarter.
• Visa's quarterly earnings report showed $2.98 earnings per share, exceeding the consensus estimate of $2.85, with a 14.3% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.59 per share, translating to an annualized dividend yield of 0.7%. The ex-dividend date was on August 12.

Talon Private Wealth LLC increased its position in shares of Visa Inc. (NYSE:V - Free Report) by 1,999.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,927 shares of the credit-card processor's stock after acquiring an additional 6,597 shares during the period. Talon Private Wealth LLC's holdings in Visa were worth $2,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Lakeridge Wealth Management LLC raised its stake in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after acquiring an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after acquiring an additional 57,800 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock worth $192,948,000 after acquiring an additional 43,546 shares in the last quarter. Yeomans Consulting Group Inc. raised its stake in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after acquiring an additional 29 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Visa during the first quarter worth about $121,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Up 0.5%

Shares of V stock traded up $1.81 on Tuesday, hitting $344.11. The company had a trading volume of 4,643,732 shares, compared to its average volume of 4,978,725. The firm has a market cap of $630.68 billion, a P/E ratio of 33.60, a P/E/G ratio of 2.28 and a beta of 0.92. The stock's 50-day moving average is $348.26 and its two-hundred day moving average is $347.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a twelve month low of $268.23 and a twelve 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 for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during 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 business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. On average, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's 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 directly owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The shares were 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. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,293 shares of company stock valued at $8,114,295 in the last ninety days. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on V shares. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Barclays reaffirmed an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $385.96.

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.