Morton Capital Management LLC CA Purchases 291 Shares of Visa Inc. $V

Morton Capital Management LLC CA grew its position in Visa Inc. (NYSE:V) by 7.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,133 shares of the credit-card processor’s stock after acquiring an additional 291 shares during the quarter. Morton Capital Management LLC CA’s holdings in Visa were worth $1,467,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Keystone Global Partners LLC bought a new stake in shares of Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $28,000. Cranbrook Wealth Management LLC lifted its position 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 period. Finally, 1 North Wealth Services LLC bought a new stake in shares of Visa in the 1st quarter worth approximately $38,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. UBS Group reissued a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Macquarie increased their target price on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Truist Financial dropped their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Robert W. Baird set a $410.00 target price on Visa and gave the stock an “outperform” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $389.00.

Visa Stock Down 1.0%

Shares of NYSE:V opened at $343.63 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $629.79 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.04 and a beta of 0.90. Visa Inc. has a 12 month low of $275.37 and a 12 month high of $375.51. The company’s 50-day moving average price is $343.77 and its two-hundred day moving average price is $346.99.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $9.82 billion. During the same period in the prior year, the business earned $2.42 earnings per share. Visa’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction 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 transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company 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.