Absoluto Partners Gestao de Recursos Ltda Grows Position in Visa Inc. $V

Absoluto Partners Gestao de Recursos Ltda lifted its holdings in Visa Inc. (NYSE:V) by 23.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,339 shares of the credit-card processor’s stock after acquiring an additional 1,764 shares during the quarter. Visa comprises approximately 2.0% of Absoluto Partners Gestao de Recursos Ltda’s holdings, making the stock its 12th biggest position. Absoluto Partners Gestao de Recursos Ltda’s holdings in Visa were worth $3,316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Keystone Global Partners LLC purchased a new position in Visa in the first quarter worth $26,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa in the 2nd quarter worth approximately $29,000. Sagard Holdings Management Inc. purchased a new position in Visa in the second quarter valued at approximately $31,000. Finally, Cranbrook Wealth Management LLC lifted its stake in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other Visa news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This trade represents a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,042 shares of company stock valued at $8,175,152 in the last three months. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on V shares. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a research report on Wednesday, October 29th. HSBC upgraded Visa from a “hold” rating to a “buy” rating and upped their price objective for the stock from $335.00 to $389.00 in a report on Sunday, December 7th. Robert W. Baird set a $425.00 price objective on Visa in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company raised Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Five analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Buy” and an average price target of $402.52.

Visa Stock Up 0.6%

Shares of Visa stock opened at $347.83 on Friday. The company’s fifty day simple moving average is $337.70 and its two-hundred day simple moving average is $345.34. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The company has a market cap of $633.65 billion, a P/E ratio of 34.07, a PEG ratio of 2.05 and a beta of 0.82. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

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

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were given a dividend of $0.67 per share. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio is 26.25%.

Visa 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.