Visa Inc. $V is RB Capital Management LLC’s 8th Largest Position

RB Capital Management LLC raised its holdings in Visa Inc. (NYSE:V) by 1.0% in the 1st quarter, HoldingsChannel reports. The fund owned 26,575 shares of the credit-card processor’s stock after acquiring an additional 262 shares during the period. Visa makes up 2.2% of RB Capital Management LLC’s investment portfolio, making the stock its 8th largest position. RB Capital Management LLC’s holdings in Visa were worth $9,314,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Keystone Global Partners LLC purchased a new position in shares of Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa in the first quarter worth about $27,000. Measured Risk Portfolios Inc. acquired a new position in shares of Visa in the 4th quarter valued at approximately $47,000. Navigoe LLC bought a new position in Visa during the 4th quarter valued at $53,000. Finally, O Brien Wealth Partners LLC bought a new position in shares of Visa during the first quarter worth about $54,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.7%

V opened at $351.19 on Wednesday. Visa Inc. has a one year low of $267.67 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $643.65 billion, a PE ratio of 34.30, a P/E/G ratio of 2.32 and a beta of 0.94. The stock’s fifty day moving average is $347.66 and its 200-day moving average is $347.42.

Visa (NYSE:V) last announced its quarterly earnings data 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. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 EPS. On average, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa’s payout ratio is 23.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on V. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer boosted their price target on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “neutral” rating on the stock. Barclays restated an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Jefferies Financial Group boosted their price objective on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $380.84.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,127 shares of company stock valued at $28,340,553 in the last three months. 0.13% of the stock is currently owned by company insiders.

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.