Visa Inc. $V Stock Holdings Raised by Randolph Co Inc

Key Points

• Randolph Co Inc has increased its holdings in Visa Inc. by 1.7%, now owning 66,436 shares valued at approximately $23.6 million, making Visa its 21st largest investment.
• Visa recently reported earnings per share (EPS) of $2.98, beating analyst expectations of $2.85, and had revenue of $10.17 billion for the last quarter, reflecting a year-over-year growth of 14.3%.
• Notable insider selling occurred, with General Counsel Julie B. Rottenberg and CEO Ryan Mcinerney selling significant portions of their shares, decreasing their positions by 14.53% and 94.14%, respectively.

Randolph Co Inc raised its stake in Visa Inc. (NYSE:V - Free Report) by 1.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 66,436 shares of the credit-card processor's stock after purchasing an additional 1,129 shares during the period. Visa accounts for approximately 2.4% of Randolph Co Inc's holdings, making the stock its 21st biggest holding. Randolph Co Inc's holdings in Visa were worth $23,588,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Keystone Global Partners LLC bought a new stake in shares of Visa during the 1st quarter valued at about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa during the 2nd quarter valued at about $28,000. Cranbrook Wealth Management LLC grew its position in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after buying an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in shares of Visa during the 1st quarter valued at about $38,000. Institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Barclays reaffirmed an "overweight" rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. Macquarie boosted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. One investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred on 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents 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 Trading Up 0.7%

Visa stock opened at $337.15 on Friday. 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 firm has a 50-day moving average price of $344.65 and a two-hundred day moving average price of $346.35. The firm has a market capitalization of $617.93 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 2.24 and a beta of 0.92. Visa Inc. has a 52-week low of $272.78 and a 52-week high of $375.51.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.42 EPS. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

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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