Visa Inc. $V is Clio Asset Management LLC's 8th Largest Position

Key Points

• Clio Asset Management LLC increased its stake in Visa Inc. by 11.8%, now holding 27,083 shares valued at approximately $9.6 million, making it the 8th largest position in their portfolio.
• Visa's shares received various upgrades from analysts, including a price target increase by Jefferies to $410, while maintaining strong "buy" ratings from multiple firms.
• The company reported strong quarterly earnings with an EPS of $2.98, exceeding estimates, and announced a quarterly dividend of $0.59, reflecting a low payout ratio of 23.05%.

Clio Asset Management LLC lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 11.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 27,083 shares of the credit-card processor's stock after purchasing an additional 2,857 shares during the period. Visa accounts for about 7.5% of Clio Asset Management LLC's portfolio, making the stock its 8th largest position. Clio Asset Management LLC's holdings in Visa were worth $9,616,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Northern Trust Corp raised its position in Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after buying an additional 726,299 shares during the last quarter. GAMMA Investing LLC raised its position 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 buying an additional 14,723,050 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock valued at $4,442,157,000 after buying an additional 434,217 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on V shares. Jefferies Financial Group upped their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. The Goldman Sachs Group began coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Citigroup began coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

Visa Stock Up 0.8%

NYSE:V traded up $2.67 on Monday, hitting $344.28. The stock had a trading volume of 5,618,726 shares, compared to its average volume of 5,421,370. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business's fifty day moving average is $345.58 and its 200 day moving average is $346.37. The company has a market cap of $630.99 billion, a PE ratio of 33.62, a P/E/G ratio of 2.27 and a beta of 0.92.

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

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is 23.05%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa 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 owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

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.