Nabity Jensen Investment Management Inc Boosts Stake in Visa Inc. $V

Nabity Jensen Investment Management Inc increased its position in Visa Inc. (NYSE:V) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,083 shares of the credit-card processor’s stock after buying an additional 58 shares during the period. Nabity Jensen Investment Management Inc’s holdings in Visa were worth $740,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. QTR Family Wealth LLC lifted its position in shares of Visa by 30.4% in the second quarter. QTR Family Wealth LLC now owns 3,019 shares of the credit-card processor’s stock worth $1,072,000 after buying an additional 703 shares in the last quarter. Eagle Capital Management LLC lifted its position in shares of Visa by 0.4% in the second quarter. Eagle Capital Management LLC now owns 21,384 shares of the credit-card processor’s stock worth $7,592,000 after buying an additional 83 shares in the last quarter. Ninety One North America Inc. lifted its position in shares of Visa by 40.4% in the second quarter. Ninety One North America Inc. now owns 433,639 shares of the credit-card processor’s stock worth $153,964,000 after buying an additional 124,674 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in shares of Visa by 2.2% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 25,909 shares of the credit-card processor’s stock worth $9,199,000 after buying an additional 555 shares in the last quarter. Finally, Magnolia Private Wealth LLC lifted its position in shares of Visa by 6.7% in the second quarter. Magnolia Private Wealth LLC now owns 920 shares of the credit-card processor’s stock worth $327,000 after buying an additional 58 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Trading Up 1.1%

Shares of NYSE V opened at $349.90 on Friday. Visa Inc. has a fifty-two week low of $273.24 and a fifty-two week high of $375.51. The company has a market cap of $641.29 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.05 and a beta of 0.90. The business’s 50 day moving average price is $343.78 and its 200-day moving average price is $346.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the prior year, the firm earned $2.42 earnings per share. Visa’s revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is 23.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Saturday, September 27th. Finally, UBS Group reaffirmed a “buy” rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $385.96.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Visa 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.