Archford Capital Strategies LLC Purchases 496 Shares of Visa Inc. $V

Archford Capital Strategies LLC raised its position in Visa Inc. (NYSE:V) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,884 shares of the credit-card processor’s stock after purchasing an additional 496 shares during the quarter. Visa comprises 2.1% of Archford Capital Strategies LLC’s investment portfolio, making the stock its 8th biggest position. Archford Capital Strategies LLC’s holdings in Visa were worth $16,646,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Keystone Global Partners LLC acquired a new position in shares of Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa in the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa in the 2nd quarter worth approximately $28,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC acquired a new position in shares of Visa in the 1st quarter worth approximately $38,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 2.0%

Shares of NYSE:V opened at $348.21 on Thursday. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51. The company’s 50 day moving average is $344.09 and its two-hundred day moving average is $346.52. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $638.20 billion, a PE ratio of 34.01, a P/E/G ratio of 2.27 and a beta of 0.90.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the firm posted $2.42 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 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 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio is currently 23.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on V. Morgan Stanley upped their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Finally, UBS Group reiterated a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

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.