Zhang Financial LLC Boosts Holdings in Visa Inc. $V

Zhang Financial LLC boosted its position in Visa Inc. (NYSE:V) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,261 shares of the credit-card processor’s stock after buying an additional 435 shares during the period. Zhang Financial LLC’s holdings in Visa were worth $2,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in 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 valued at $159,523,000 after purchasing an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC increased its stake in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after purchasing an additional 111 shares in the last quarter. Consilium Wealth Advisory LLC purchased a new position in Visa in the 2nd quarter valued at approximately $862,000. Iron Gate Global Advisors LLC boosted its position 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 buying an additional 3,484 shares in the last quarter. Finally, NatWest Group plc boosted its position in shares of Visa by 43.8% in the 2nd quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock worth $16,212,000 after buying an additional 13,912 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were 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 owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction 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. This represents a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.13% of the stock is owned by company insiders.

Visa Trading Up 1.0%

Shares of V stock opened at $344.53 on Friday. The firm has a 50-day moving average price of $344.94 and a 200 day moving average price of $348.27. Visa Inc. has a twelve month low of $287.19 and a twelve month high of $375.51. The company has a market capitalization of $631.44 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 2.02 and a beta of 0.90. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the previous year, the company posted $2.71 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s payout ratio is 23.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on V shares. Truist Financial decreased their price objective 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. Barclays reiterated 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. Macquarie decreased their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $400.00.

About Visa

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.