Brighton Jones LLC Grows Stake in Visa Inc. $V

Brighton Jones LLC boosted its position in Visa Inc. (NYSE:V) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,876 shares of the credit-card processor’s stock after purchasing an additional 1,758 shares during the period. Brighton Jones LLC’s holdings in Visa were worth $8,122,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Keystone Global Partners LLC purchased a new position in Visa in the 1st quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa in the 2nd quarter valued at approximately $28,000. von Borstel & Associates Inc. purchased a new position in Visa in the 1st quarter valued at approximately $27,000. Harbor Asset Planning Inc. acquired a new stake in Visa during the 2nd quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC grew its holdings in 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. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of Visa stock opened at $347.71 on Tuesday. Visa Inc. has a twelve month low of $281.35 and a twelve month high of $375.51. The stock has a market capitalization of $637.28 billion, a P/E ratio of 33.96, a PEG ratio of 2.05 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average price is $344.89 and its 200 day moving average price is $348.09.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter last year, the firm earned $2.42 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated 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 transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. UBS Group reiterated a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. KeyCorp reiterated an “overweight” rating and set a $405.00 target price on shares of Visa in a report on Wednesday, October 22nd. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $392.75.

Visa Company Profile

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.