Rodgers & Associates LTD Makes New $212,000 Investment in Visa Inc. $V

Rodgers & Associates LTD acquired a new position in Visa Inc. (NYSE:V) in the 2nd quarter, HoldingsChannel reports. The fund acquired 598 shares of the credit-card processor’s stock, valued at approximately $212,000.

Several other institutional investors have also added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after acquiring an additional 57,800 shares during the period. Precedent Wealth Partners LLC increased its position in shares of Visa by 7.5% during the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after acquiring an additional 111 shares during the period. Consilium Wealth Advisory LLC purchased a new position in shares of Visa during the second quarter worth approximately $862,000. Iron Gate Global Advisors LLC increased its position in shares of Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after acquiring an additional 3,484 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $344.44 on Tuesday. The firm has a market cap of $631.28 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.03 and a beta of 0.90. The company’s 50 day moving average is $344.47 and its 200 day moving average is $347.11. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51.

Visa (NYSE:V) last released its quarterly 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. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the company earned $2.42 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on V. Robert W. Baird set a $410.00 target price on shares of Visa and gave the stock an “outperform” rating in a research report on Monday, October 6th. Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, UBS Group reissued a “buy” rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $389.00.

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.