Visa Inc. $V Shares Purchased by Bey Douglas LLC

Key Points

• Bey Douglas LLC increased its stake in Visa Inc. by 40.4%, owning a total of 27,896 shares valued at approximately $9.9 million as of the latest quarter.
• Visa reported an EPS of $2.98 for the last quarter, surpassing analysts' estimates of $2.85, with revenue hitting $10.17 billion, a 14.3% increase year-over-year.
• The company's stock recently set new price targets, with analysts like Morgan Stanley raising their target to $402 and UBS Group to $415, reflecting overall positive sentiment among analysts.

Bey Douglas LLC boosted its position in Visa Inc. (NYSE:V - Free Report) by 40.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,896 shares of the credit-card processor's stock after purchasing an additional 8,029 shares during the quarter. Visa comprises approximately 5.9% of Bey Douglas LLC's investment portfolio, making the stock its 6th largest position. Bey Douglas LLC's holdings in Visa were worth $9,905,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lindenwold Advisors INC raised its stake in Visa by 4.9% in the 2nd quarter. Lindenwold Advisors INC now owns 10,054 shares of the credit-card processor's stock valued at $3,570,000 after purchasing an additional 474 shares during the last quarter. Cross Staff Investments Inc raised its holdings in shares of Visa by 6.6% during the 2nd quarter. Cross Staff Investments Inc now owns 6,809 shares of the credit-card processor's stock worth $2,417,000 after acquiring an additional 423 shares during the period. Bernard Wealth Management Corp. raised its holdings in shares of Visa by 3.2% during the 2nd quarter. Bernard Wealth Management Corp. now owns 11,988 shares of the credit-card processor's stock worth $4,256,000 after acquiring an additional 368 shares during the period. SLT Holdings LLC raised its holdings in shares of Visa by 38.3% during the 2nd quarter. SLT Holdings LLC now owns 1,058 shares of the credit-card processor's stock worth $376,000 after acquiring an additional 293 shares during the period. Finally, Summit Place Financial Advisors LLC raised its holdings in shares of Visa by 1.2% during the 2nd quarter. Summit Place Financial Advisors LLC now owns 10,471 shares of the credit-card processor's stock worth $3,718,000 after acquiring an additional 125 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of Visa stock opened at $345.81 on Thursday. The business has a 50-day moving average of $344.14 and a 200 day moving average of $346.97. Visa Inc. has a 12 month low of $278.35 and a 12 month high of $375.51. The stock has a market capitalization of $633.80 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V - Get Free Report) last announced its 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 analysts' expectations of $9.82 billion. During the same period last year, the business posted $2.42 EPS. Visa's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis 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

Several research analysts have recently commented on V shares. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Morgan Stanley lifted their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Robert W. Baird set a $410.00 price target on Visa and gave the stock an "outperform" rating in a report on Monday, October 6th. UBS Group reissued a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $389.00.

Insider Transactions at Visa

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

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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