Cloud Capital Management LLC Acquires 215 Shares of Visa Inc. $V

Cloud Capital Management LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,983 shares of the credit-card processor’s stock after buying an additional 215 shares during the quarter. Cloud Capital Management LLC’s holdings in Visa were worth $1,020,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. New Millennium Group LLC boosted its stake in shares of Visa by 88.6% during the 2nd quarter. New Millennium Group LLC now owns 7,070 shares of the credit-card processor’s stock worth $2,510,000 after acquiring an additional 3,322 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of Visa by 6.1% in the 2nd quarter. Moors & Cabot Inc. now owns 74,964 shares of the credit-card processor’s stock valued at $26,616,000 after acquiring an additional 4,321 shares in the last quarter. TKG Advisors LLC acquired a new stake in Visa in the 2nd quarter worth approximately $4,932,000. Cherry Creek Investment Advisors Inc. boosted its position in Visa by 5.9% during the second quarter. Cherry Creek Investment Advisors Inc. now owns 16,182 shares of the credit-card processor’s stock worth $5,745,000 after purchasing an additional 902 shares during the period. Finally, Simmons Bank grew its holdings in Visa by 1.0% during the second quarter. Simmons Bank now owns 12,253 shares of the credit-card processor’s stock valued at $4,350,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $336.63 on Friday. The firm’s 50-day moving average is $343.84 and its 200-day moving average is $348.51. The company has a market cap of $616.97 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.06 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the company earned $2.71 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

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

Insider Activity

In other Visa news, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 23,897 shares of company stock worth $8,164,561. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of analyst reports. Morgan Stanley set a $398.00 price objective on shares of Visa and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Citigroup upgraded shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. KeyCorp reissued an “overweight” rating and set a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective for the company. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

About Visa

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.