Visa Inc. $V Shares Bought by Brookstone Capital Management

Brookstone Capital Management boosted its stake in Visa Inc. (NYSE:V) by 3.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 51,145 shares of the credit-card processor’s stock after acquiring an additional 1,486 shares during the period. Brookstone Capital Management’s holdings in Visa were worth $17,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter worth about $28,000. Harbor Asset Planning Inc. acquired a new position in shares of Visa in the 2nd quarter valued at about $29,000. Sagard Holdings Management Inc. acquired a new position in shares of Visa in the 2nd quarter valued at about $31,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% during the 2nd 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 during the period. Finally, Bare Financial Services Inc increased its position in Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 66 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 900 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares in the company, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. 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 over the last 90 days. 0.12% of the stock is owned by company insiders.

Visa Price Performance

Shares of NYSE V opened at $354.78 on Friday. The firm has a market cap of $646.31 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $338.34 and a two-hundred day moving average price of $344.40. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51.

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

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is 26.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group set a $425.00 price target on shares of Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley set a $398.00 price objective on shares of Visa and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Evercore ISI set a $380.00 target price on shares of Visa in a report on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Finally, Citigroup upgraded Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $402.52.

Visa Company Profile

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.