Phillips Financial Management LLC Increases Stock Position in Visa Inc. $V

Phillips Financial Management LLC boosted its stake in Visa Inc. (NYSE:V) by 16.2% in the second quarter, Holdings Channel.com reports. The fund owned 2,047 shares of the credit-card processor’s stock after buying an additional 285 shares during the quarter. Phillips Financial Management LLC’s holdings in Visa were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Keystone Global Partners LLC purchased a new stake in Visa in the first quarter valued at $26,000. von Borstel & Associates Inc. purchased a new stake in Visa in the first quarter valued at $27,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa in the second quarter valued at $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa in the second quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 0.4%

Shares of Visa stock opened at $347.34 on Friday. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. 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 company’s 50-day simple moving average is $344.79 and its 200-day simple moving average is $347.60. The firm has a market cap 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.

Visa (NYSE:V) last issued its quarterly 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 business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the business posted $2.42 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. 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 payout ratio is 23.05%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $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. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on V shares. UBS Group reaffirmed a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday. Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Finally, Morgan Stanley upped their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.