Brighton Jones LLC Increases Stock Holdings in Visa Inc. (NYSE:V)

Brighton Jones LLC increased its holdings in Visa Inc. (NYSE:V) by 7.3% in the second quarter, Holdings Channel.com reports. The firm owned 14,857 shares of the credit-card processor’s stock after purchasing an additional 1,007 shares during the period. Brighton Jones LLC’s holdings in Visa were worth $3,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Intech Investment Management LLC grew its position in shares of Visa by 4.4% in the second quarter. Intech Investment Management LLC now owns 77,764 shares of the credit-card processor’s stock valued at $20,411,000 after purchasing an additional 3,306 shares during the period. ProVise Management Group LLC boosted its holdings in Visa by 2.6% in the second quarter. ProVise Management Group LLC now owns 54,248 shares of the credit-card processor’s stock valued at $14,239,000 after acquiring an additional 1,397 shares during the last quarter. UP Strategic Wealth Investment Advisors LLC boosted its holdings in Visa by 5.2% in the second quarter. UP Strategic Wealth Investment Advisors LLC now owns 1,790 shares of the credit-card processor’s stock valued at $470,000 after acquiring an additional 89 shares during the last quarter. MQS Management LLC acquired a new position in Visa in the second quarter valued at $980,000. Finally, WCG Wealth Advisors LLC boosted its holdings in Visa by 14.4% in the second quarter. WCG Wealth Advisors LLC now owns 34,576 shares of the credit-card processor’s stock valued at $9,075,000 after acquiring an additional 4,363 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on V shares. Royal Bank of Canada reduced their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Piper Sandler reduced their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Macquarie restated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Finally, Compass Point began coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $310.22.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

Visa Stock Down 1.1 %

Shares of Visa stock opened at $285.25 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $519.81 billion, a P/E ratio of 31.87, a P/E/G ratio of 2.05 and a beta of 0.96. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $293.07. The business has a 50-day moving average price of $270.27 and a 200 day moving average price of $273.46.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.16 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Visa Company 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.