Exchange Traded Concepts LLC Raises Stock Holdings in Visa Inc. $V

Key Points

• Exchange Traded Concepts LLC increased its holdings in Visa Inc. by 15.5% during the second quarter, now owning 18,423 shares valued at approximately $6.54 million.
• Visa reported a quarterly earnings per share (EPS) of $2.98, exceeding analyst estimates by $0.13 and showing a revenue increase of 14.3% year-over-year.
• The company recently announced a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.7% and a payout ratio of 23.05%.

Exchange Traded Concepts LLC boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 15.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,423 shares of the credit-card processor's stock after acquiring an additional 2,467 shares during the quarter. Exchange Traded Concepts LLC's holdings in Visa were worth $6,541,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in V. Brighton Jones LLC boosted its stake in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. BIP Alliance LLC bought a new stake in shares of Visa in the 4th quarter valued at $392,000. Retirement Planning Group LLC boosted its stake in shares of 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 purchasing an additional 559 shares during the last quarter. Finally, Vise Technologies Inc. boosted its stake in shares of 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 purchasing an additional 9,473 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on V shares. Oppenheimer upped their price objective 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. Macquarie upped their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. Finally, Truist Financial cut their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. One investment 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Visa Price Performance

Shares of V stock traded up $3.89 during trading hours on Friday, reaching $342.07. The stock had a trading volume of 13,657,860 shares, compared to its average volume of 4,986,314. The stock's fifty day simple moving average is $345.70 and its 200 day simple moving average is $346.37. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. The firm has a market capitalization of $626.94 billion, a PE ratio of 33.41, a PEG ratio of 2.27 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business earned $2.42 earnings per share. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis 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 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.