Hodges Capital Management Inc. Acquires 4,036 Shares of Visa Inc. $V

Hodges Capital Management Inc. increased its holdings in Visa Inc. (NYSE:V) by 72.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,614 shares of the credit-card processor’s stock after purchasing an additional 4,036 shares during the quarter. Hodges Capital Management Inc.’s holdings in Visa were worth $3,414,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Brighton Jones LLC increased its stake in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Kingsman Wealth Management Inc. acquired a new stake in Visa during the 1st quarter valued at approximately $1,935,000. Capital & Planning LLC raised its holdings in Visa by 25.1% during the 1st quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock worth $416,000 after purchasing an additional 238 shares during the last quarter. Finally, Platform Technology Partners lifted its position in shares of Visa by 17.6% in the 1st quarter. Platform Technology Partners now owns 11,496 shares of the credit-card processor’s stock worth $4,029,000 after purchasing an additional 1,722 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of V opened at $334.49 on Tuesday. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The company has a market cap of $613.05 billion, a PE ratio of 32.76, a P/E/G ratio of 2.03 and a beta of 0.87. The stock has a 50-day moving average of $343.17 and a 200-day moving average of $348.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the prior year, the company earned $2.71 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is 23.11%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction 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 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 SEC, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 23,897 shares of company stock valued at $8,164,561. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Raymond James Financial reiterated an “outperform” rating and set a $408.00 price target (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 price objective on Visa in a research note on Wednesday, October 29th. Macquarie lowered their target price on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $400.00.

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.