Fox Run Management L.L.C. Buys New Holdings in Visa Inc. $V

Fox Run Management L.L.C. acquired a new stake in shares of Visa Inc. (NYSE:V) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,183 shares of the credit-card processor’s stock, valued at approximately $775,000.

Other hedge funds have also bought and sold shares of the company. Yeomans Consulting Group Inc. grew its holdings in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares during the last quarter. Semus Wealth Partners LLC lifted its position in Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after acquiring an additional 29 shares in the last quarter. BankPlus Wealth Management LLC boosted its stake in Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after purchasing an additional 29 shares during the last quarter. Transcendent Capital Group LLC increased its holdings in Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after purchasing an additional 29 shares in the last quarter. Finally, Valued Retirements Inc. increased its holdings in Visa by 4.3% during the 1st quarter. Valued Retirements Inc. now owns 728 shares of the credit-card processor’s stock worth $255,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. KeyCorp reaffirmed an “overweight” rating and set a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,897 shares of company stock valued at $8,164,561 in the last 90 days. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $335.91 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $615.66 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.03 and a beta of 0.87. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The firm’s 50-day simple moving average is $343.52 and its two-hundred day simple moving average is $348.84.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. As a group, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is presently 23.11%.

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.