Fogel Capital Management Inc. Has $2.91 Million Stock Position in Visa Inc. $V

Fogel Capital Management Inc. grew its position in shares of Visa Inc. (NYSE:VFree Report) by 29.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,492 shares of the credit-card processor’s stock after purchasing an additional 1,943 shares during the quarter. Visa makes up 1.2% of Fogel Capital Management Inc.’s holdings, making the stock its 8th biggest holding. Fogel Capital Management Inc.’s holdings in Visa were worth $2,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Castlefield Investment Partners LLP increased its stake in shares of Visa by 5.5% in the second quarter. Castlefield Investment Partners LLP now owns 19,562 shares of the credit-card processor’s stock valued at $6,712,000 after buying an additional 1,016 shares during the period. OMERS ADMINISTRATION Corp raised its holdings in Visa by 32.1% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 140,163 shares of the credit-card processor’s stock valued at $48,089,000 after buying an additional 34,024 shares during the last quarter. Covington Investment Advisors Inc. boosted its position in Visa by 1.6% during the 2nd quarter. Covington Investment Advisors Inc. now owns 53,375 shares of the credit-card processor’s stock worth $18,312,000 after buying an additional 823 shares during the period. Jericho Financial LLP boosted its position in Visa by 11.9% during the 2nd quarter. Jericho Financial LLP now owns 21,412 shares of the credit-card processor’s stock worth $7,346,000 after buying an additional 2,279 shares during the period. Finally, Charles Lim Capital Ltd bought a new stake in Visa during the 2nd quarter worth approximately $8,577,000. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the transaction, the insider directly owned 49,662 shares in the company, valued at approximately $18,125,140.14. This represents a 53.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 20,970 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,162,953.50. This trade represents a 58.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 90,759 shares of company stock valued at $32,375,779. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on V. Evercore set a $350.00 price target on shares of Visa in a research report on Wednesday, April 29th. Weiss Ratings upgraded Visa from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. Wolfe Research reaffirmed an “outperform” rating and issued a $435.00 price objective (up from $430.00) on shares of Visa in a research note on Wednesday, July 29th. Clear Str upgraded Visa to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $406.00 target price on shares of Visa in a report on Wednesday, July 29th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $413.58.

Get Our Latest Stock Analysis on V

Visa Stock Performance

V stock opened at $371.09 on Monday. The stock has a 50-day moving average price of $353.73 and a 200-day moving average price of $329.61. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $373.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a market cap of $662.18 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the business earned $2.98 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. As a group, equities research analysts expect that Visa Inc. will post 13.16 earnings per share for the current year.

Visa declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s payout ratio is 22.79%.

About Visa

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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