eCIO Inc. Takes Position in Visa Inc. $V

eCIO Inc. bought a new position in shares of Visa Inc. (NYSE:V) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 592 shares of the credit-card processor’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC raised its position in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Nicholas Investment Partners LP purchased a new stake in shares of Visa in the fourth quarter valued at about $266,000. Quadcap Wealth Management LLC raised its stake in Visa by 1.8% during the 4th quarter. Quadcap Wealth Management LLC now owns 14,483 shares of the credit-card processor’s stock valued at $4,577,000 after acquiring an additional 255 shares during the last quarter. Finally, Prodigy Asset Management LLC acquired a new stake in shares of Visa during the fourth quarter worth $307,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. Barclays reiterated an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Finally, Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $385.96.

Visa Price Performance

Visa stock opened at $343.28 on Friday. The firm has a market capitalization of $629.16 billion, a PE ratio of 33.52, a P/E/G ratio of 2.25 and a beta of 0.92. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The firm’s 50-day simple moving average is $347.41 and its 200 day simple moving average is $347.03. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last announced its earnings results 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. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the business posted $2.42 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on 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 sale, the general counsel owned 11,925 shares in the company, valued at $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. 0.13% of the stock is currently owned by corporate insiders.

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.