Joseph Group Capital Management Acquires 446 Shares of Visa Inc. $V

Joseph Group Capital Management raised its holdings in Visa Inc. (NYSE:V) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,112 shares of the credit-card processor’s stock after buying an additional 446 shares during the period. Visa comprises approximately 1.8% of Joseph Group Capital Management’s investment portfolio, making the stock its 21st biggest holding. Joseph Group Capital Management’s holdings in Visa were worth $5,366,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after buying an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC boosted its stake in Visa by 7.5% in the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after buying an additional 111 shares in the last quarter. Consilium Wealth Advisory LLC bought a new position in Visa in the second quarter valued at about $862,000. Iron Gate Global Advisors LLC grew its position in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after acquiring an additional 3,484 shares during the last quarter. Finally, NatWest Group plc raised its stake in Visa by 43.8% during the second quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock worth $16,212,000 after acquiring an additional 13,912 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

V stock opened at $334.49 on Tuesday. The company has a market capitalization of $613.05 billion, a P/E ratio of 32.76, a PEG ratio of 2.03 and a beta of 0.87. The company has a fifty day moving average price of $343.17 and a 200-day moving average price of $348.83. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

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

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is currently 23.11%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 23,897 shares of company stock worth $8,164,561 over the last ninety days. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on V. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Macquarie dropped their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.