Baker Avenue Asset Management LP Has $6.24 Million Holdings in Visa Inc. $V

Baker Avenue Asset Management LP boosted its holdings in shares of Visa Inc. (NYSE:V) by 16.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,563 shares of the credit-card processor’s stock after buying an additional 2,474 shares during the period. Baker Avenue Asset Management LP’s holdings in Visa were worth $6,236,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BankPlus Wealth Management LLC lifted its stake in Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after acquiring an additional 29 shares in the last quarter. Transcendent Capital Group LLC grew its stake in shares of Visa by 2.9% in the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares in the last quarter. Interchange Capital Partners LLC raised its holdings in shares of Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock valued at $2,276,000 after purchasing an additional 30 shares during the last quarter. Academy Capital Management lifted its position in shares of Visa by 3.7% during the first quarter. Academy Capital Management now owns 860 shares of the credit-card processor’s stock valued at $301,000 after purchasing an additional 31 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID boosted its holdings in Visa by 12.0% during the first quarter. Legacy Wealth Managment LLC ID now owns 289 shares of the credit-card processor’s stock worth $101,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several analyst reports. Macquarie decreased their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Citigroup upgraded Visa to a “strong-buy” rating in a report on Thursday, October 23rd. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, HSBC raised shares of Visa to a “buy” rating and set a $389.00 price target on the stock in a report on Sunday. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $399.52.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. The trade was a 7.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lloyd Carney sold 900 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,042 shares of company stock worth $8,175,152. 0.13% of the stock is owned by company insiders.

Visa Stock Performance

NYSE V opened at $330.92 on Monday. The firm has a market cap of $602.85 billion, a P/E ratio of 32.41, a price-to-earnings-growth ratio of 1.96 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 company’s 50 day moving average is $338.75 and its 200-day moving average is $345.93. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

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

Visa Increases Dividend

The business also recently declared 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%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 26.25%.

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.