Friedenthal Financial Invests $969,000 in Visa Inc. $V

Friedenthal Financial bought a new stake in Visa Inc. (NYSE:V) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,730 shares of the credit-card processor’s stock, valued at approximately $969,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Brighton Jones LLC grew its position in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Visa by 9.9% in the 1st quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock valued at $14,761,000 after acquiring an additional 3,795 shares during the last quarter. McElhenny Sheffield Capital Management LLC lifted its holdings in Visa by 130.9% in the 1st quarter. McElhenny Sheffield Capital Management LLC now owns 2,415 shares of the credit-card processor’s stock valued at $846,000 after acquiring an additional 1,369 shares during the last quarter. Finally, May Barnhard Investments LLC lifted its holdings in Visa by 22.9% in the 1st quarter. May Barnhard Investments LLC now owns 1,489 shares of the credit-card processor’s stock valued at $522,000 after acquiring an additional 277 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V stock opened at $343.63 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a one year low of $275.37 and a one year high of $375.51. The firm has a market capitalization of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.06 and a beta of 0.90. The firm has a 50-day moving average of $343.77 and a two-hundred day moving average of $346.97.

Visa (NYSE:V) last posted 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. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.42 earnings per share. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on V shares. Robert W. Baird set a $410.00 price target on shares of Visa and gave the company an “outperform” rating in a report on Monday. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Oppenheimer upped their price target on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Barclays reissued an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $389.00.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.