Maloon Powers Pitre Higgins & Dennehy LLC Makes New $2.28 Million Investment in Visa Inc. $V

Maloon Powers Pitre Higgins & Dennehy LLC purchased a new stake in shares of Visa Inc. (NYSE:V) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,657 shares of the credit-card processor’s stock, valued at approximately $2,284,000. Visa makes up about 0.8% of Maloon Powers Pitre Higgins & Dennehy LLC’s investment portfolio, making the stock its 29th biggest position.

Other hedge funds have also modified their holdings of the company. Markowski Investments bought a new position in Visa in the 2nd quarter worth $1,927,000. Old Mission Investment Co LLC bought a new stake in Visa during the second quarter valued at about $4,866,000. OceanIQ Capital LLC bought a new stake in Visa during the second quarter valued at about $353,000. Strive Financial Group LLC lifted its position in shares of Visa by 3.9% in the second quarter. Strive Financial Group LLC now owns 1,268 shares of the credit-card processor’s stock valued at $435,000 after acquiring an additional 48 shares in the last quarter. Finally, Blalock Williams LLC boosted its stake in shares of Visa by 16.6% in the second quarter. Blalock Williams LLC now owns 2,704 shares of the credit-card processor’s stock worth $928,000 after acquiring an additional 385 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Down 1.1%

Shares of V stock opened at $374.46 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $668.20 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 2.03 and a beta of 0.76. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $385.57. The stock’s 50-day moving average price is $363.63 and its 200-day moving average price is $333.27.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. The company had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.98 earnings per share. Equities research analysts predict that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa’s dividend payout ratio is 22.79%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Cantor Fitzgerald set a $445.00 target price on Visa and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Wells Fargo & Company reissued an “overweight” rating and issued a $432.00 price target (up from $412.00) on shares of Visa in a report on Thursday, July 30th. Barclays started coverage on Visa in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 price target for the company. Clear Str raised shares of Visa to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $416.00 price objective on shares of Visa in a research report on Wednesday, July 29th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $416.62.

Insider Activity

In related news, CEO Ryan Mcinerney sold 20,970 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $340.25, for a total value of $7,135,042.50. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,162,953.50. This trade represents a 58.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the transaction, the insider directly owned 49,662 shares of the company’s stock, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 104,537 shares of company stock worth $37,540,837. 0.12% of the stock is currently owned by insiders.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.