Visa Inc. $V Shares Acquired by Trust Point Inc.

Key Points

• Trust Point Inc. increased its holdings in Visa Inc. by 14.8% during the second quarter, now owning 15,285 shares valued at approximately $5.4 million.
• Visa's quarterly earnings reached $2.98 per share, exceeding the estimated $2.85, with revenues of $10.17 billion representing a 14.3% year-over-year increase.
• Brokerages have issued a strong outlook for Visa, with several raising their price targets and maintaining "buy" or "overweight" ratings amid robust institutional interest.

Trust Point Inc. boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 14.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,285 shares of the credit-card processor's stock after purchasing an additional 1,969 shares during the quarter. Visa comprises approximately 0.5% of Trust Point Inc.'s investment portfolio, making the stock its 27th biggest position. Trust Point Inc.'s holdings in Visa were worth $5,427,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares during the period. BIP Alliance LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $392,000. Retirement Planning Group LLC raised its position in Visa by 25.6% in the 4th quarter. Retirement Planning Group LLC now owns 2,744 shares of the credit-card processor's stock valued at $867,000 after buying an additional 559 shares during the last quarter. Finally, Vise Technologies Inc. raised its position in Visa by 46.9% in the 4th quarter. Vise Technologies Inc. now owns 29,664 shares of the credit-card processor's stock valued at $9,375,000 after buying an additional 9,473 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

V has been the subject of several recent research reports. Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Morgan Stanley lifted their price target on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Jefferies Financial Group boosted their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One research 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 stock. According to data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company'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 completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Monday, August 18th. The stock was 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 of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Stock Up 1.2%

NYSE V traded up $3.89 on Friday, reaching $342.07. 13,657,860 shares of the stock traded hands, compared to its average volume of 4,986,314. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. The company has a fifty day moving average price of $345.70 and a 200-day moving average price of $346.37. The company has a market cap of $626.94 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.27 and a beta of 0.92. 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 (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for 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 firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.42 EPS. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. 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 payout ratio is 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.