EdgeRock Capital LLC Acquires 67 Shares of Visa Inc. (NYSE:V)

EdgeRock Capital LLC grew its holdings in Visa Inc. (NYSE:V) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,924 shares of the credit-card processor’s stock after purchasing an additional 67 shares during the quarter. EdgeRock Capital LLC’s holdings in Visa were worth $675,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital & Planning LLC raised its stake in shares of Visa by 21.2% during the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock worth $300,000 after acquiring an additional 166 shares in the last quarter. Sovereign Investment Advisors LLC bought a new position in shares of Visa during the 4th quarter worth approximately $424,000. Brighton Jones LLC raised its stake in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Visa during the 4th quarter worth approximately $202,074,000. Finally, Revolve Wealth Partners LLC raised its stake in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $370.89 on Wednesday. The company’s fifty day moving average price is $346.49 and its 200 day moving average price is $336.52. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $371.44. The company has a market capitalization of $684.35 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the firm posted $2.51 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on V shares. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Evercore ISI assumed coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price on the stock. Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Finally, Macquarie dropped their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,162 shares of company stock valued at $58,645,479. Corporate insiders own 0.13% of the company’s stock.

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.