Brogan Financial Inc. Grows Stake in Visa Inc. $V

Brogan Financial Inc. increased its position in shares of Visa Inc. (NYSE:V) by 39.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,385 shares of the credit-card processor’s stock after purchasing an additional 393 shares during the quarter. Brogan Financial Inc.’s holdings in Visa were worth $492,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of V. Vanguard Group Inc. grew its stake in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after purchasing an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock worth $4,442,157,000 after purchasing an additional 434,217 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Visa

In related news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction 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 represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Macquarie dropped their price target on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Barclays reissued an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, KeyCorp reiterated an “overweight” rating and set a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Price Performance

Shares of NYSE:V opened at $335.76 on Friday. The company has a market cap of $615.37 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.05 and a beta of 0.87. The business has a fifty day simple moving average of $342.43 and a 200-day simple moving average of $348.69. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

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, topping the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.71 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a $0.67 dividend. 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%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio is 26.25%.

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.