Proffitt & Goodson Inc. Buys 55 Shares of Visa Inc. $V

Proffitt & Goodson Inc. grew its stake in shares of Visa Inc. (NYSE:V) by 26.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 262 shares of the credit-card processor’s stock after acquiring an additional 55 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Visa were worth $93,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of V. Brighton Jones LLC raised its holdings in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Visa by 9.9% during the 1st quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock worth $14,761,000 after buying an additional 3,795 shares in the last quarter. McElhenny Sheffield Capital Management LLC raised its holdings in shares of Visa by 130.9% during the 1st quarter. McElhenny Sheffield Capital Management LLC now owns 2,415 shares of the credit-card processor’s stock worth $846,000 after buying an additional 1,369 shares in the last quarter. Finally, May Barnhard Investments LLC raised its holdings in shares of Visa by 22.9% during the 1st quarter. May Barnhard Investments LLC now owns 1,489 shares of the credit-card processor’s stock worth $522,000 after buying an additional 277 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

V has been the subject of a number of research analyst reports. Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Morgan Stanley upped their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Barclays reaffirmed an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $389.00.

Visa Trading Down 1.0%

Shares of V stock opened at $343.63 on Friday. The stock has a market cap of $629.79 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.06 and a beta of 0.90. The stock has a 50-day moving average of $343.77 and a 200-day moving average of $346.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 1-year low of $275.37 and a 1-year high of $375.51.

Visa (NYSE:V) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current 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 paid 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 yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’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 transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. 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.