Patron Partners LLC Increases Stock Position in Visa Inc. (NYSE:V)

Patron Partners LLC raised its holdings in shares of Visa Inc. (NYSE:V) by 3.6% during the second quarter, HoldingsChannel reports. The fund owned 4,447 shares of the credit-card processor’s stock after purchasing an additional 155 shares during the quarter. Patron Partners LLC’s holdings in Visa were worth $1,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Hilltop National Bank purchased a new stake in Visa in the first quarter valued at approximately $1,212,000. Absolute Capital Management LLC purchased a new stake in shares of Visa during the 1st quarter valued at $404,000. SageView Advisory Group LLC raised its position in shares of Visa by 40.4% during the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after buying an additional 7,236 shares in the last quarter. Davidson Capital Management Inc. lifted its holdings in shares of Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after acquiring an additional 44 shares during the last quarter. Finally, Empirical Finance LLC grew its position in Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after acquiring an additional 1,914 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on V shares. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Morgan Stanley cut their target price on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Citigroup decreased their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $309.54.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

Visa Stock Up 0.3 %

NYSE:V opened at $279.37 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm’s 50-day moving average price is $266.53 and its 200-day moving average price is $273.14. The company has a market capitalization of $509.10 billion, a PE ratio of 31.23, a P/E/G ratio of 1.98 and a beta of 0.96. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the company earned $2.16 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.