Arrowroot Family Office LLC Invests $1.36 Million in Visa Inc. $V

Arrowroot Family Office LLC bought a new position in shares of Visa Inc. (NYSE:V) in the second quarter, Holdings Channel.com reports. The firm bought 3,818 shares of the credit-card processor’s stock, valued at approximately $1,355,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Ring Mountain Capital LLC boosted its holdings in Visa by 9.9% in the 2nd quarter. Ring Mountain Capital LLC now owns 1,821 shares of the credit-card processor’s stock worth $636,000 after buying an additional 164 shares during the period. Blue Barn Wealth LLC boosted its holdings in shares of Visa by 5.0% in the second quarter. Blue Barn Wealth LLC now owns 3,042 shares of the credit-card processor’s stock worth $1,080,000 after acquiring an additional 146 shares during the period. Main Street Research LLC boosted its holdings in shares of Visa by 0.6% in the second quarter. Main Street Research LLC now owns 172,420 shares of the credit-card processor’s stock worth $61,218,000 after acquiring an additional 1,054 shares during the period. Commonwealth Retirement Investments LLC boosted its stake in Visa by 62.2% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 15,622 shares of the credit-card processor’s stock worth $5,546,000 after purchasing an additional 5,990 shares during the period. Finally, Artemis Wealth Advisors LLC bought a new stake in Visa during the second quarter valued at approximately $297,000. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was 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 $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group set a $425.00 price target on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Barclays restated an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Morgan Stanley set a $398.00 price objective on shares of Visa and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 price target on shares of Visa in a research note on Wednesday, October 29th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $400.00.

Visa Stock Performance

Shares of NYSE:V opened at $340.31 on Thursday. The company has a market cap of $623.72 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 2.06 and a beta of 0.87. The company has a 50-day moving average price of $344.10 and a 200-day moving average price of $348.59. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51.

Visa (NYSE:V) last released its quarterly 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. The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.71 EPS. As a group, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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