Narwhal Capital Management Raises Holdings in Visa Inc. (NYSE:V)

Narwhal Capital Management raised its position in shares of Visa Inc. (NYSE:V) by 20.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,184 shares of the credit-card processor’s stock after acquiring an additional 5,972 shares during the period. Narwhal Capital Management’s holdings in Visa were worth $9,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Livelsberger Financial Advisory purchased a new stake in Visa during the 4th quarter worth $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the first quarter worth about $25,000. POM Investment Strategies LLC grew its stake in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa during the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC raised its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V opened at $279.48 on Friday. The firm has a market capitalization of $509.30 billion, a PE ratio of 31.23, a P/E/G ratio of 1.98 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $266.53 and a 200 day moving average price of $273.14. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. Visa’s payout ratio is currently 23.24%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. Jefferies Financial Group dropped their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Bank of America reiterated a “neutral” rating and issued a $297.00 price target (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Compass Point initiated coverage on Visa in a research note on Wednesday. They set a “buy” rating and a $319.00 price objective for the company. Finally, William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $309.54.

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.