Rehmann Capital Advisory Group Raises Stock Position in Visa Inc. $V

Rehmann Capital Advisory Group increased its stake in Visa Inc. (NYSE:V) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,993 shares of the credit-card processor’s stock after purchasing an additional 447 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Visa were worth $5,679,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Keystone Global Partners LLC purchased a new stake in Visa in the first quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new stake in Visa in the first quarter worth approximately $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa during the 2nd quarter worth $28,000. Harbor Asset Planning Inc. purchased a new position in shares of Visa during the 2nd quarter worth $29,000. Finally, Cranbrook Wealth Management LLC boosted its stake in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.4%

V opened at $347.34 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51. The firm’s fifty day moving average is $344.79 and its 200 day moving average is $347.60. The stock has a market cap of $636.60 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90.

Visa (NYSE:V) last released 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 net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the company earned $2.42 EPS. Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday. Barclays reiterated an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Morgan Stanley lifted their price target on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Oppenheimer lifted their price target on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $392.75.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The sale 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 Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.