Visa Inc. $V Shares Purchased by Halbert Hargrove Global Advisors LLC

Halbert Hargrove Global Advisors LLC boosted its position in Visa Inc. (NYSE:V) by 75.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 749 shares of the credit-card processor’s stock after purchasing an additional 323 shares during the quarter. Halbert Hargrove Global Advisors LLC’s holdings in Visa were worth $266,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lakeridge Wealth Management LLC increased its stake in shares of Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after acquiring an additional 81 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake 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 acquiring an additional 57,800 shares during the last quarter. Iron Gate Global Advisors LLC increased its stake 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 acquiring an additional 3,484 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 acquiring an additional 955,392 shares during the last quarter. Finally, Yeomans Consulting Group Inc. increased its stake in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. UBS Group reaffirmed a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Barclays reaffirmed an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Morgan Stanley raised their price objective on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $385.96.

Visa Stock Down 0.5%

Shares of NYSE:V opened at $345.97 on Friday. The business has a 50-day moving average price of $343.92 and a 200 day moving average price of $346.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $634.09 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.06 and a beta of 0.90. Visa Inc. has a 12-month low of $273.24 and a 12-month high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data 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 the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the company earned $2.42 EPS. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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 $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated 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 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 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.