Visa Inc. $V Shares Bought by Hobart Private Capital LLC

Hobart Private Capital LLC raised its position in Visa Inc. (NYSE:V) by 265.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,215 shares of the credit-card processor’s stock after acquiring an additional 3,062 shares during the period. Hobart Private Capital LLC’s holdings in Visa were worth $1,497,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Peterson Wealth Services lifted its holdings in Visa by 0.5% in the second quarter. Peterson Wealth Services now owns 22,219 shares of the credit-card processor’s stock valued at $7,889,000 after acquiring an additional 100 shares during the last quarter. Sage Mountain Advisors LLC lifted its stake in shares of Visa by 6.8% in the 2nd quarter. Sage Mountain Advisors LLC now owns 14,649 shares of the credit-card processor’s stock valued at $5,201,000 after purchasing an additional 933 shares during the last quarter. Lee Danner & Bass Inc. lifted its stake in shares of Visa by 1.0% in the 2nd quarter. Lee Danner & Bass Inc. now owns 64,900 shares of the credit-card processor’s stock valued at $23,043,000 after purchasing an additional 625 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Visa by 0.7% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,456,263 shares of the credit-card processor’s stock valued at $1,582,196,000 after buying an additional 32,269 shares during the last quarter. Finally, Moloney Securities Asset Management LLC lifted its position in Visa by 0.7% in the second quarter. Moloney Securities Asset Management LLC now owns 15,111 shares of the credit-card processor’s stock valued at $5,365,000 after buying an additional 103 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

V stock opened at $347.34 on Monday. The business’s 50-day moving average is $344.79 and its two-hundred day moving average is $347.98. The firm has a market capitalization of $636.60 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.05 and a beta of 0.90. Visa Inc. has a 1 year low of $280.78 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

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 the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. 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 company earned $2.42 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on V shares. Citigroup upgraded shares of Visa to a “strong-buy” rating in a report on Thursday. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Morgan Stanley increased their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, KeyCorp reissued an “overweight” rating and set a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $392.75.

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.