McLean Asset Management Corp Raises Position in Visa Inc. $V

McLean Asset Management Corp lifted its holdings in shares of Visa Inc. (NYSE:V) by 2.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,798 shares of the credit-card processor’s stock after acquiring an additional 89 shares during the quarter. McLean Asset Management Corp’s holdings in Visa were worth $1,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC increased its holdings in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC raised its stake in Visa by 68.9% during 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 buying an additional 4,817 shares during the last quarter. Sora Investors LLC grew its position in shares of Visa by 5.0% during the 4th quarter. Sora Investors LLC now owns 84,017 shares of the credit-card processor’s stock valued at $26,553,000 after acquiring an additional 4,017 shares during the period. Silvercrest Asset Management Group LLC grew its position in shares of Visa by 14.4% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 164,443 shares of the credit-card processor’s stock valued at $51,970,000 after acquiring an additional 20,723 shares during the period. Finally, SGL Investment Advisors Inc. grew its position in shares of Visa by 14.2% during the 4th quarter. SGL Investment Advisors Inc. now owns 771 shares of the credit-card processor’s stock valued at $244,000 after acquiring an additional 96 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on V. Citigroup began coverage on shares of Visa in a research report on Monday, June 2nd. They set a “buy” rating on the stock. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Jefferies Financial Group increased their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Finally, Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $385.96.

Visa Trading Down 1.2%

Shares of Visa stock opened at $339.33 on Friday. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a fifty day moving average price of $347.03 and a 200 day moving average price of $346.94. The stock has a market cap of $621.92 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the company earned $2.42 EPS. Visa’s revenue was up 14.3% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $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. Company insiders own 0.13% of the company’s stock.

About Visa

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.