Visa Inc. $V Shares Bought by Fortis Capital Advisors LLC

Key Points

• Fortis Capital Advisors LLC significantly increased its holdings in Visa Inc. by 99.2% during the 1st quarter, bringing their total shares to 4,439 worth approximately $1.56 million.
• Visa's stock recently reported a quarterly earnings of $2.98 EPS, surpassing estimates and showing a 14.3% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.59 per share with a yield of 0.7%, reflecting an annualized payout of $2.36.

Fortis Capital Advisors LLC increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 99.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,439 shares of the credit-card processor's stock after purchasing an additional 2,211 shares during the period. Fortis Capital Advisors LLC's holdings in Visa were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of Visa by 38,416.3% during 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 purchasing an additional 14,723,050 shares in the last quarter. Nuveen LLC acquired a new position in shares of Visa during the 1st quarter worth about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Visa in the fourth quarter valued at approximately $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Visa by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock valued at $4,210,207,000 after purchasing an additional 1,723,785 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Visa by 1.1% in 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. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The shares were 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 approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 directly owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Stock Performance

NYSE V opened at $344.11 on Wednesday. The business's 50-day moving average price is $348.03 and its 200 day moving average price is $347.13. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The firm has a market cap of $630.68 billion, a P/E ratio of 33.60, a P/E/G ratio of 2.28 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Visa Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on V shares. The Goldman Sachs Group started coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Jefferies Financial Group increased their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Morgan Stanley raised their price target on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $385.96.

About Visa

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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