Northside Capital Management LLC Acquires 28,850 Shares of Visa Inc. $V

Northside Capital Management LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 203.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 43,047 shares of the credit-card processor’s stock after purchasing an additional 28,850 shares during the period. Visa makes up approximately 1.2% of Northside Capital Management LLC’s holdings, making the stock its 23rd largest position. Northside Capital Management LLC’s holdings in Visa were worth $15,284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. Keystone Global Partners LLC purchased a new stake in Visa during the 1st quarter valued at about $26,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the second quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter valued at approximately $27,000. Cranbrook Wealth Management LLC grew 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 buying an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC increased its position in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock valued at $38,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V opened at $335.09 on Friday. The firm has a market capitalization of $614.15 billion, a P/E ratio of 32.72, a PEG ratio of 2.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a one year low of $270.00 and a one year high of $375.51. The business has a fifty day moving average of $344.89 and a 200 day moving average of $346.22.

Visa (NYSE:V) last announced its earnings results 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. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the firm posted $2.42 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They issued a “neutral” rating on the stock. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Barclays restated an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $385.96.

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.