Raleigh Capital Management Inc. Has $956,000 Stock Holdings in Visa Inc. $V

Raleigh Capital Management Inc. raised its position in shares of Visa Inc. (NYSE:V) by 19.5% in the second quarter, HoldingsChannel.com reports. The firm owned 2,692 shares of the credit-card processor’s stock after purchasing an additional 439 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Visa were worth $956,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Keystone Global Partners LLC bought a new position in Visa during the first quarter worth $26,000. Family Legacy Financial Solutions LLC bought a new position in Visa during the second quarter worth $28,000. von Borstel & Associates Inc. bought a new position in shares of Visa in the first quarter valued at $27,000. Cranbrook Wealth Management LLC lifted its stake in shares of Visa by 82.0% in 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 in the last quarter. Finally, Westend Capital Management LLC lifted its stake in shares of Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock valued at $38,000 after buying an additional 49 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 2.0%

Shares of V opened at $348.21 on Thursday. The firm has a market cap of $638.20 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 2.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $273.24 and a fifty-two week high of $375.51. The firm has a 50 day moving average price of $344.09 and a 200-day moving average price of $346.52.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.42 EPS. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Analyst Ratings Changes

V has been the topic of a number of recent analyst reports. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their price target for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. UBS Group restated a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Barclays restated an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $385.96.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by insiders.

Visa Company 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.