Rathbones Group PLC Purchases 107,523 Shares of Visa Inc. (NYSE:V)

Rathbones Group PLC increased its position in Visa Inc. (NYSE:V) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,333,932 shares of the credit-card processor’s stock after buying an additional 107,523 shares during the period. Visa comprises 4.8% of Rathbones Group PLC’s portfolio, making the stock its 3rd largest holding. Rathbones Group PLC owned approximately 0.18% of Visa worth $875,057,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Westend Capital Management LLC acquired a new position in Visa during the first quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Visa during the 4th quarter valued at $25,000. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Visa in the 4th quarter worth $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Visa Stock Performance

Shares of NYSE V opened at $287.35 on Friday. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $523.64 billion, a PE ratio of 32.11, a P/E/G ratio of 2.01 and a beta of 0.96. The stock has a 50 day simple moving average of $268.29 and a 200-day simple moving average of $273.24.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 EPS. On average, equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group dropped their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Evercore ISI reduced their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Bank of America reaffirmed a “neutral” rating and set a $297.00 price target (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.81.

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.