M1 Capital Management LLC Increases Holdings in Visa Inc. $V

M1 Capital Management LLC increased its stake in Visa Inc. (NYSE:V) by 8.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 887 shares of the credit-card processor’s stock after purchasing an additional 67 shares during the quarter. M1 Capital Management LLC’s holdings in Visa were worth $315,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in V. Brighton Jones LLC grew its position 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 purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Visa by 68.9% during the fourth 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 grew its position in Visa by 9.9% during the first 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. Wealth Enhancement Advisory Services LLC grew its position in Visa by 22.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 867,704 shares of the credit-card processor’s stock worth $304,096,000 after buying an additional 161,161 shares in the last quarter. Finally, Sound Income Strategies LLC grew its position in Visa by 5.8% during the first quarter. Sound Income Strategies LLC now owns 4,079 shares of the credit-card processor’s stock worth $1,430,000 after buying an additional 224 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’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 completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’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 sale, the general counsel directly 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 disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Trading Down 0.2%

Shares of V stock opened at $343.05 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $343.79 and a two-hundred day moving average price of $346.97. Visa Inc. has a 12-month low of $277.99 and a 12-month high of $375.51. The firm has a market cap of $628.73 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s payout ratio is 23.05%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group restated a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Raymond James Financial restated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Robert W. Baird set a $410.00 target price on Visa and gave the stock an “outperform” rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Finally, Morgan Stanley lifted their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

Visa 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.