Financial Gravity Companies Inc. Takes $156,000 Position in Visa Inc. $V

Financial Gravity Companies Inc. acquired a new stake in shares of Visa Inc. (NYSE:V) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 440 shares of the credit-card processor’s stock, valued at approximately $156,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Keystone Global Partners LLC acquired a new stake in shares of Visa during the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa in the 2nd quarter worth $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa during the second quarter worth $29,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Hoese & Co LLP acquired a new position in shares of Visa in the 2nd quarter valued at $36,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 1.8%

Shares of NYSE:V opened at $329.89 on Friday. The company has a 50 day moving average price of $342.16 and a two-hundred day moving average price of $348.69. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $604.63 billion, a PE ratio of 32.31, a PEG ratio of 2.00 and a beta of 0.87. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the business earned $2.71 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. Analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 26.25%.

Insider Activity at Visa

In other 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 value of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 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 sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In 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.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. KeyCorp restated an “overweight” rating and set a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Robert W. Baird set a $425.00 price objective on shares of Visa in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $400.00.

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.