Simon Quick Advisors LLC Buys 2,380 Shares of Visa Inc. $V

Simon Quick Advisors LLC grew its position in Visa Inc. (NYSE:V) by 16.6% in the second quarter, HoldingsChannel.com reports. The firm owned 16,718 shares of the credit-card processor’s stock after acquiring an additional 2,380 shares during the period. Simon Quick Advisors LLC’s holdings in Visa were worth $5,936,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Coign Capital Advisors LLC boosted its position in shares of Visa by 1.2% in the second quarter. Coign Capital Advisors LLC now owns 2,892 shares of the credit-card processor’s stock worth $1,027,000 after purchasing an additional 33 shares during the period. AdvisorShares Investments LLC bought a new position in Visa in the 2nd quarter worth $444,000. Strs Ohio boosted its holdings in Visa by 6.0% in the 2nd quarter. Strs Ohio now owns 530,257 shares of the credit-card processor’s stock worth $188,268,000 after buying an additional 30,250 shares during the period. Impact Partnership Wealth LLC bought a new position in Visa in the 2nd quarter worth $223,000. Finally, Amalgamated Bank boosted its holdings in Visa by 1.1% in the 2nd quarter. Amalgamated Bank now owns 393,506 shares of the credit-card processor’s stock worth $139,714,000 after buying an additional 4,124 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. UBS Group set a $425.00 price target on Visa and gave the stock a “buy” rating in a research note on Wednesday. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Raymond James Financial restated an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a research report on Wednesday. Finally, KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s 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 completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by company insiders.

Visa Stock Down 1.1%

NYSE V opened at $341.07 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08. The company has a market capitalization of $625.11 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.03 and a beta of 0.90. Visa Inc. has a one year low of $287.19 and a one year high of $375.51. The stock has a 50 day moving average price of $344.78 and a 200-day moving average price of $348.40.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the company earned $2.71 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is 23.11%.

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.