Clune & Associates LTD. Purchases 95 Shares of Visa Inc. $V

Clune & Associates LTD. increased its position in shares of Visa Inc. (NYSE:V) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,699 shares of the credit-card processor’s stock after buying an additional 95 shares during the period. Clune & Associates LTD.’s holdings in Visa were worth $603,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Klingman & Associates LLC boosted its holdings in shares of Visa by 12.9% during the 2nd quarter. Klingman & Associates LLC now owns 8,824 shares of the credit-card processor’s stock worth $3,133,000 after buying an additional 1,005 shares during the period. Phoenix Financial Ltd. boosted its holdings in shares of Visa by 23.5% during the 2nd quarter. Phoenix Financial Ltd. now owns 64,738 shares of the credit-card processor’s stock worth $22,937,000 after buying an additional 12,324 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in shares of Visa by 6.2% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 8,317 shares of the credit-card processor’s stock worth $2,953,000 after buying an additional 487 shares during the period. WESPAC Advisors SoCal LLC boosted its holdings in shares of Visa by 13.0% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 10,294 shares of the credit-card processor’s stock worth $3,655,000 after buying an additional 1,183 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Visa by 0.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,908,755 shares of the credit-card processor’s stock worth $667,725,000 after buying an additional 13,715 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.1%

Shares of V stock opened at $345.82 on Friday. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. The stock has a market cap of $633.81 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 2.04 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. The firm has a fifty day moving average of $344.73 and a 200-day moving average of $347.33.

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

Visa Dividend Announcement

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Barclays reiterated an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. UBS Group reiterated a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Morgan Stanley upped their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $392.75.

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.