J.Safra Asset Management Corp Has $1.98 Million Stock Position in Visa Inc. $V

J.Safra Asset Management Corp grew its position in Visa Inc. (NYSE:V) by 10.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,679 shares of the credit-card processor’s stock after buying an additional 525 shares during the period. J.Safra Asset Management Corp’s holdings in Visa were worth $1,980,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Keystone Global Partners LLC acquired a new stake in shares of Visa during the first quarter worth $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the second quarter worth $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the first quarter worth $27,000. Cranbrook Wealth Management LLC grew its stake 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 worth $32,000 after purchasing an additional 41 shares during the period. Finally, Westend Capital Management LLC grew its stake 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 worth $38,000 after purchasing an additional 49 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on V. UBS Group reaffirmed a “buy” rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $389.00.

Insider Buying and Selling

In other news, 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 transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Stock Up 1.9%

NYSE:V opened at $341.90 on Friday. The stock has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.02 and a beta of 0.90. The stock has a 50-day moving average price of $344.30 and a two-hundred day moving average price of $346.83. Visa Inc. has a 1 year low of $280.78 and a 1 year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.42 earnings per share. As a group, equities analysts expect 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. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio is presently 23.05%.

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.