Hoge Financial Services LLC Grows Position in Visa Inc. $V

Hoge Financial Services LLC raised its position in shares of Visa Inc. (NYSE:V) by 11.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 910 shares of the credit-card processor’s stock after buying an additional 97 shares during the quarter. Hoge Financial Services LLC’s holdings in Visa were worth $322,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Visa by 14.5% in the 1st 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 purchasing an additional 57,800 shares during the period. Precedent Wealth Partners LLC boosted its holdings in shares of Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after purchasing an additional 111 shares during the period. Consilium Wealth Advisory LLC purchased a new position in shares of Visa in the 2nd quarter worth approximately $862,000. Iron Gate Global Advisors LLC boosted its holdings in shares of Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after purchasing an additional 3,484 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Visa by 7.2% in the 1st 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 purchasing an additional 955,392 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $347.34 on Friday. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. 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 market capitalization of $636.60 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.05 and a beta of 0.90. The stock has a 50 day moving average price of $344.79 and a 200 day moving average price of $347.87.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) 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 return on equity of 58.93% and a net margin of 52.16%.Visa’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $2.42 EPS. As a group, sell-side analysts predict 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. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is 23.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Truist Financial dropped their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Citigroup upgraded Visa to a “strong-buy” rating in a report on Thursday. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a report on Wednesday. Finally, KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Visa in a research note on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $392.75.

Insiders Place Their Bets

In other Visa news, 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% 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 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.