Saiph Capital LLC Buys 1,837 Shares of Visa Inc. $V

Saiph Capital LLC increased its stake in Visa Inc. (NYSE:V) by 55.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,135 shares of the credit-card processor’s stock after acquiring an additional 1,837 shares during the quarter. Visa comprises 0.6% of Saiph Capital LLC’s holdings, making the stock its 25th largest position. Saiph Capital LLC’s holdings in Visa were worth $1,823,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in V. Keystone Global Partners LLC bought a new position in Visa in the first quarter worth approximately $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa in the 2nd quarter worth $29,000. Cranbrook Wealth Management LLC grew its position in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares in the last quarter. Finally, Bare Financial Services Inc grew its position in shares of Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 0.8%

NYSE:V opened at $326.94 on Friday. The company’s 50-day simple moving average is $338.88 and its 200-day simple moving average is $346.42. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The stock has a market capitalization of $595.59 billion, a P/E ratio of 32.02, a P/E/G ratio of 1.95 and a beta of 0.82.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $2.71 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is currently 26.25%.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 24,042 shares of company stock worth $8,175,152. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Raymond James Financial restated an “outperform” rating and issued a $408.00 price target (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

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.