Rockbridge Capital Management LLC Has $5.57 Million Position in Visa Inc. $V

Rockbridge Capital Management LLC lowered its holdings in shares of Visa Inc. (NYSE:V) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,690 shares of the credit-card processor’s stock after selling 71 shares during the period. Visa comprises 3.2% of Rockbridge Capital Management LLC’s portfolio, making the stock its 12th largest holding. Rockbridge Capital Management LLC’s holdings in Visa were worth $5,571,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Keystone Global Partners LLC acquired a new stake in Visa during the first quarter worth $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the 2nd quarter valued at $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the 1st quarter valued at $27,000. Cranbrook Wealth Management LLC boosted its stake in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC boosted its stake in shares of Visa by 83.1% in the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock valued at $38,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $341.90 on Monday. The stock has a market capitalization of $626.63 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.03 and a beta of 0.90. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $344.30 and a two-hundred day moving average price of $346.89.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 EPS. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was 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 directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on V shares. Macquarie boosted their target price on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Morgan Stanley upped their price target 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. Finally, Robert W. Baird set a $410.00 price target on shares of Visa and gave the stock an “outperform” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $389.00.

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.