Secure Asset Management LLC Boosts Stake in Visa Inc. $V

Key Points

• Secure Asset Management LLC increased its stake in Visa Inc. by 12.9% during the second quarter, owning 10,885 shares valued at approximately $3.87 million.
• Visa's recent quarterly earnings exceeded expectations, with $2.98 EPS reported against a consensus estimate of $2.85, resulting in a revenue of $10.17 billion.
• Several analysts raised their price targets for Visa, with targets now ranging from $400 to $425, and the stock has a consensus rating of "Moderate Buy."

Secure Asset Management LLC boosted its position in Visa Inc. (NYSE:V - Free Report) by 12.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,885 shares of the credit-card processor's stock after purchasing an additional 1,242 shares during the quarter. Visa makes up 0.7% of Secure Asset Management LLC's portfolio, making the stock its 28th biggest position. Secure Asset Management LLC's holdings in Visa were worth $3,865,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Keystone Global Partners LLC bought a new stake in Visa in the first quarter worth $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the 1st quarter valued at $27,000. 1 North Wealth Services LLC bought a new position in shares of Visa during the 1st quarter valued at $38,000. Anderson Financial Strategies LLC bought a new position in shares of Visa during the 1st quarter valued at $53,000. Finally, O Brien Wealth Partners LLC bought a new position in shares of Visa during the 1st quarter valued at $54,000. Institutional investors own 82.15% of the company's stock.

Visa Trading Up 1.2%

V traded up $3.89 on Friday, hitting $342.07. The company had a trading volume of 13,657,860 shares, compared to its average volume of 4,986,314. The company has a market cap of $626.94 billion, a PE ratio of 33.41, a PEG ratio of 2.25 and a beta of 0.92. Visa Inc. has a 12-month low of $268.23 and a 12-month 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 simple moving average is $345.70 and its 200 day simple moving average is $346.41.

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, topping analysts' consensus estimates of $2.85 by $0.13. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 EPS. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Insider Activity

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 transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $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.

Analysts Set New Price Targets

Several research firms have recently weighed in on V. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. One equities research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.