Fogel Capital Management Inc. Has $2.91 Million Stock Holdings in Visa Inc. $V

Fogel Capital Management Inc. increased its holdings in shares of Visa Inc. (NYSE:V) by 29.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,492 shares of the credit-card processor’s stock after acquiring an additional 1,943 shares during the quarter. Visa comprises 1.2% of Fogel Capital Management Inc.’s portfolio, making the stock its 8th biggest holding. Fogel Capital Management Inc.’s holdings in Visa were worth $2,914,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nixon Peabody Trust Co. boosted its stake in shares of Visa by 58.1% in the first quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock valued at $1,270,000 after buying an additional 1,543 shares during the period. Vanguard Group Inc. grew its position in Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after buying an additional 1,054,343 shares in the last quarter. Beacon Financial Group increased its stake in Visa by 83.9% during the 1st quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor’s stock worth $6,801,000 after acquiring an additional 10,267 shares during the period. Sterling Investment Management LLC increased its stake in Visa by 43.7% during the 4th quarter. Sterling Investment Management LLC now owns 17,832 shares of the credit-card processor’s stock worth $6,254,000 after acquiring an additional 5,421 shares during the period. Finally, Pincus Capital Management LP acquired a new position in Visa in the 4th quarter valued at $4,278,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. The trade was a 9.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,219,704.26. This represents a 40.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 90,759 shares of company stock valued at $32,375,779. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on V. Citigroup reiterated a “buy” rating and set a $440.00 target price (up from $400.00) on shares of Visa in a research report on Wednesday, July 29th. Raymond James Financial restated an “outperform” rating and issued a $406.00 price target on shares of Visa in a research report on Wednesday, July 29th. Robert W. Baird boosted their price target on Visa from $412.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Erste Group Bank upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, July 27th. Finally, Clear Str raised shares of Visa to a “strong-buy” rating in a research note on Thursday, July 16th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $413.58.

Visa Price Performance

Shares of V stock opened at $371.09 on Monday. The business has a fifty day simple moving average of $353.73 and a 200 day simple moving average of $329.61. The company has a market cap of $662.18 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.99 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $373.97.

Visa (NYSE:V) last released its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. The firm had revenue of $11.63 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.98 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa declared that its Board of Directors has approved a share buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is presently 22.79%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.