Kimelman & Baird LLC Invests $29.06 Million in Visa Inc. (NYSE:V)

Kimelman & Baird LLC purchased a new position in Visa Inc. (NYSE:V) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 110,703 shares of the credit-card processor’s stock, valued at approximately $29,056,000. Visa accounts for 2.4% of Kimelman & Baird LLC’s portfolio, making the stock its 17th biggest holding.

Several other large investors also recently modified their holdings of V. Brio Consultants LLC raised its holdings in shares of Visa by 39.1% during the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock valued at $405,000 after buying an additional 437 shares during the last quarter. Gilbert & Cook Inc. boosted its stake in Visa by 2.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock valued at $1,466,000 after purchasing an additional 158 shares in the last quarter. Aveo Capital Partners LLC raised its stake in shares of Visa by 9.2% in the 4th quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock worth $730,000 after buying an additional 235 shares in the last quarter. 9258 Wealth Management LLC lifted its holdings in shares of Visa by 20.8% in the fourth quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock valued at $2,094,000 after buying an additional 1,387 shares during the period. Finally, J. W. Coons Advisors LLC boosted its stake in Visa by 1.2% during the fourth quarter. J. W. Coons Advisors LLC now owns 9,446 shares of the credit-card processor’s stock valued at $2,459,000 after buying an additional 108 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on V shares. Royal Bank of Canada dropped their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI lowered their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Morgan Stanley restated an “overweight” rating and issued a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $275.17 on Monday. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. The firm has a market capitalization of $503.27 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. 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 stock’s 50-day simple moving average is $271.31 and its 200 day simple moving average is $273.19.

Visa (NYSE:V) last issued its quarterly earnings results 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 company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 earnings per share. On average, analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.