Visa Inc. $V Shares Acquired by Spectrum Planning & Advisory Services Inc.

Key Points

• Spectrum Planning & Advisory Services Inc. increased its holdings in Visa shares by 168.9%, owning 1,667 shares valued at about $592,000 after purchasing an additional 1,047 shares in the second quarter.
• CEO Ryan Mcinerney and General Counsel Julie B. Rottenberg both sold significant portions of their shares recently, with Mcinerney reducing his stake by 94.14%.
• Visa's quarterly earnings topped expectations, reporting $10.17 billion in revenue and $2.98 EPS, ahead of the consensus estimate of $9.82 billion and $2.85 EPS, respectively.

Spectrum Planning & Advisory Services Inc. increased its position in shares of Visa Inc. (NYSE:V - Free Report) by 168.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,667 shares of the credit-card processor's stock after purchasing an additional 1,047 shares during the period. Spectrum Planning & Advisory Services Inc.'s holdings in Visa were worth $592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in V. GAMMA Investing LLC lifted its holdings in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. Nuveen LLC acquired a new stake in Visa during the first quarter valued at approximately $3,518,533,000. Vanguard Group Inc. boosted its holdings in Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after buying an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after buying an additional 1,651,954 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in shares of Visa in the first quarter valued at $373,240,000. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 transaction 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. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value 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. 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 owned by insiders.

Visa Price Performance

Shares of NYSE:V opened at $335.09 on Friday. The firm has a market cap of $614.15 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 2.25 and a beta of 0.92. Visa Inc. has a 1 year low of $270.00 and a 1 year high of $375.51. 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 business has a fifty day simple moving average of $344.89 and a 200 day simple moving average of $346.22.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.42 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on V. Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. UBS Group reaffirmed a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays restated an "overweight" rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus 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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.