Visa Inc. $V Stake Raised by Asio Capital LLC

Key Points

• Asio Capital LLC increased its stake in Visa Inc. by 3.6%, acquiring a total of 25,348 shares, which are valued at approximately $9 million.
• Visa reported earnings of $2.98 per share for the last quarter, which surpassed analysts' estimates of $2.85, contributing to a 14.3% revenue increase year-over-year.
• Visa announced a quarterly dividend of $0.59, resulting in a yield of 0.7%, with a payout ratio of 23.05%.

Asio Capital LLC boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,348 shares of the credit-card processor's stock after acquiring an additional 888 shares during the quarter. Visa comprises about 1.5% of Asio Capital LLC's investment portfolio, making the stock its 20th biggest holding. Asio Capital LLC's holdings in Visa were worth $9,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Spartan Planning & Wealth Management raised its holdings in Visa by 7.9% during the 2nd quarter. Spartan Planning & Wealth Management now owns 3,360 shares of the credit-card processor's stock worth $1,193,000 after buying an additional 245 shares during the period. Kavar Capital Partners Group LLC raised its holdings in Visa by 1.0% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 21,855 shares of the credit-card processor's stock worth $7,760,000 after buying an additional 210 shares during the period. Elser Financial Planning Inc acquired a new stake in Visa during the 2nd quarter worth about $255,000. Oakworth Capital Inc. raised its holdings in Visa by 6.0% during the 2nd quarter. Oakworth Capital Inc. now owns 7,368 shares of the credit-card processor's stock worth $2,616,000 after buying an additional 420 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC raised its holdings in Visa by 10.2% during the 2nd quarter. Baron Silver Stevens Financial Advisors LLC now owns 5,901 shares of the credit-card processor's stock worth $2,095,000 after buying an additional 548 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on 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 sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company's stock.

Visa Trading Up 2.0%

Shares of NYSE V opened at $348.21 on Thursday. The stock has a market cap of $638.20 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 2.27 and a beta of 0.90. The business has a 50 day simple moving average of $344.09 and a 200 day simple moving average of $346.52. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the company earned $2.42 earnings per share. The business's revenue was up 14.3% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business 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 payout ratio is 23.05%.

Analysts Set New Price Targets

Several analysts have issued reports on V shares. Oppenheimer boosted their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. 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. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. Finally, Morgan Stanley lifted their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and a consensus price target of $385.96.

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.

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