Visa Inc. $V Stock Position Increased by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management Inc. increased its holdings in Visa Inc. by 15.6% during Q2, owning a total of 134,456 shares worth approximately $47.7 million.
• Visa reported a quarterly earnings per share (EPS) of $2.98, surpassing estimates of $2.85, and its revenues grew by 14.3% year-over-year to $10.17 billion.
• The company's recent dividend announcement included a payment of $0.59 per share, reflecting an annualized dividend yield of 0.7%.

Cidel Asset Management Inc. lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 15.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,456 shares of the credit-card processor's stock after buying an additional 18,155 shares during the quarter. Visa comprises 2.9% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 4th biggest position. Cidel Asset Management Inc.'s holdings in Visa were worth $47,739,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Keystone Global Partners LLC purchased a new stake in Visa in the 1st quarter worth approximately $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa in the 2nd quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new stake in Visa in the 1st quarter worth approximately $27,000. Harbor Asset Planning Inc. purchased a new stake in Visa in the 2nd quarter worth approximately $29,000. Finally, Cranbrook Wealth Management LLC lifted its stake in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after purchasing an additional 41 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE:V opened at $347.17 on Wednesday. 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 Inc. has a one year low of $280.78 and a one year high of $375.51. The company's fifty day moving average price is $344.68 and its 200-day moving average price is $347.11. The firm has a market capitalization of $636.29 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the firm earned $2.42 EPS. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

V has been the topic of several recent analyst reports. Barclays reiterated an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. UBS Group reissued a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Wells Fargo & Company set a $412.00 price target on shares of Visa and gave the stock an "overweight" rating in a report on Tuesday. Raymond James Financial reissued an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $389.74.

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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