Jag Capital Management LLC Sells 293 Shares of Visa Inc. $V

Jag Capital Management LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,036 shares of the credit-card processor’s stock after selling 293 shares during the period. Jag Capital Management LLC’s holdings in Visa were worth $4,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Keystone Global Partners LLC bought a new position in shares of Visa in the first quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new position in Visa in the 1st quarter worth $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter valued at about $28,000. Cranbrook Wealth Management LLC boosted its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new position in shares of Visa during the 1st quarter valued at about $38,000. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $341.90 on Friday. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $626.63 billion, a P/E ratio of 33.39, a P/E/G ratio of 1.99 and a beta of 0.90. The stock has a 50 day moving average price of $344.30 and a 200 day moving average price of $346.83.

Visa (NYSE:V) last issued its quarterly 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 return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the company earned $2.42 EPS. Visa’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Analyst Ratings Changes

A number of brokerages recently commented on V. Robert W. Baird set a $410.00 price target on Visa and gave the company an “outperform” rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. UBS Group reiterated a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on 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 position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Company 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.