Visa Inc. (NYSE:V) Shares Acquired by EdgeRock Capital LLC

EdgeRock Capital LLC grew its holdings in Visa Inc. (NYSE:V) by 3.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,924 shares of the credit-card processor’s stock after buying an additional 67 shares during the period. EdgeRock Capital LLC’s holdings in Visa were worth $675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors grew its holdings in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock valued at $7,526,660,000 after purchasing an additional 866,596 shares during the period. Capital World Investors grew its holdings in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock valued at $7,356,614,000 after purchasing an additional 241,057 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 1.2%

NYSE V opened at $370.89 on Wednesday. The firm has a 50 day simple moving average of $346.49 and a 200-day simple moving average of $336.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $371.44. The firm has a market cap of $684.35 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the firm posted $2.51 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,162 shares of company stock valued at $58,645,479. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

V has been the subject of a number of analyst reports. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Macquarie dropped their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, BMO Capital Markets upped their price objective on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $372.80.

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.