Pacific Heights Asset Management LLC Has $19.17 Million Stock Holdings in Visa Inc. $V

Pacific Heights Asset Management LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 1.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 54,000 shares of the credit-card processor’s stock after acquiring an additional 1,000 shares during the period. Visa accounts for 1.0% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 23rd largest position. Pacific Heights Asset Management LLC’s holdings in Visa were worth $19,173,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after acquiring an additional 57,800 shares during the period. Precedent Wealth Partners LLC grew its holdings in Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after acquiring an additional 111 shares during the period. Consilium Wealth Advisory LLC acquired a new stake in Visa during the 2nd quarter worth $862,000. Iron Gate Global Advisors LLC grew its holdings in Visa by 5.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after acquiring an additional 3,484 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $347.34 on Friday. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The firm has a market capitalization of $636.60 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $344.79 and a 200-day moving average of $347.60.

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

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 yield of 0.7%. Visa’s dividend payout ratio is presently 23.05%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction 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 completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was 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.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Macquarie lifted their target price on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Barclays reissued 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. UBS Group reissued a “buy” rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $392.75.

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.