Visa Inc. $V Position Lifted by Bogart Wealth LLC

Key Points

• Bogart Wealth LLC increased its stake in Visa Inc. by 2.2% during Q2, owning 55,885 shares worth approximately $19.84 million.
• Analysts have varied views on Visa, with Citigroup initiating coverage with a "buy" rating and a target price of $450, while Erste Group Bank downgraded its rating to "hold".
• Visa reported Q2 earnings of $2.98 per share, exceeding estimates, with revenues of $10.17 billion, representing a 14.3% year-over-year increase.

Bogart Wealth LLC raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,885 shares of the credit-card processor's stock after acquiring an additional 1,222 shares during the quarter. Visa makes up 0.8% of Bogart Wealth LLC's portfolio, making the stock its 21st biggest position. Bogart Wealth LLC's holdings in Visa were worth $19,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in V. Keystone Global Partners LLC bought a new position in Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in Visa during the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new position in Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa during the second quarter worth $29,000. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of 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. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on V shares. Citigroup started coverage on shares of Visa in a report on Wednesday. They set a "buy" rating and a $450.00 target price on the stock. Erste Group Bank cut shares of Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. KeyCorp reaffirmed an "overweight" rating and issued a $405.00 price objective on shares of Visa in a report on Wednesday. Barclays reaffirmed an "overweight" rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $392.75.

Visa Stock Down 0.6%

Visa stock opened at $345.10 on Thursday. The stock has a market cap of $632.50 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.05 and a beta of 0.90. 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 company's 50-day moving average price is $344.72 and its two-hundred day moving average price is $347.09. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51.

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

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given 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 dividend payout ratio is 23.05%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

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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