Novare Capital Management LLC Buys 225 Shares of Visa Inc. $V

Novare Capital Management LLC boosted its stake in Visa Inc. (NYSE:V) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 35,071 shares of the credit-card processor’s stock after purchasing an additional 225 shares during the period. Novare Capital Management LLC’s holdings in Visa were worth $12,452,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in V. Keystone Global Partners LLC bought a new stake in Visa in the first quarter worth about $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa in the first quarter worth about $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa in the second quarter worth about $28,000. Harbor Asset Planning Inc. purchased a new position in shares of Visa in the second quarter worth about $29,000. Finally, Cranbrook Wealth Management LLC increased its stake in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $347.17 on Wednesday. The company has a 50 day moving average of $344.68 and a 200 day moving average of $347.11. The stock has a market cap of $636.29 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.04 and a beta of 0.90. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Visa Dividend Announcement

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

V has been the subject of several recent research reports. Wells Fargo & Company set a $412.00 target price on shares of Visa and gave the stock an “overweight” rating in a research note on Tuesday. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $389.74.

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.