Private Management Group Inc. Grows Stake in Visa Inc. (NYSE:V)

Private Management Group Inc. lifted its stake in Visa Inc. (NYSE:V) by 9.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,178 shares of the credit-card processor’s stock after buying an additional 102 shares during the period. Private Management Group Inc.’s holdings in Visa were worth $309,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Westend Capital Management LLC purchased a new position in Visa in the 1st quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new stake in Visa during the 4th quarter valued at $25,000. POM Investment Strategies LLC increased its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new position in Visa in the 4th quarter worth $33,000. Finally, TruNorth Capital Management LLC boosted its position in Visa by 211.9% in 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 last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Evercore ISI dropped their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Compass Point started coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Macquarie restated an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada cut their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $309.54.

Visa Trading Up 2.2 %

Shares of V stock opened at $285.61 on Tuesday. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The firm has a market capitalization of $520.47 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. The stock has a fifty day moving average of $266.97 and a two-hundred day moving average of $273.12. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 earnings per share. As a group, research analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. 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 0.73%. Visa’s dividend payout ratio is presently 23.24%.

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.