Fairtree Asset Management Pty Ltd Boosts Stock Position in Visa Inc. $V

Fairtree Asset Management Pty Ltd boosted its holdings in shares of Visa Inc. (NYSE:V) by 16.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,780 shares of the credit-card processor’s stock after purchasing an additional 1,967 shares during the quarter. Visa comprises about 1.8% of Fairtree Asset Management Pty Ltd’s investment portfolio, making the stock its 13th largest position. Fairtree Asset Management Pty Ltd’s holdings in Visa were worth $4,728,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. G&S Capital LLC increased its holdings in shares of Visa by 4.0% in the 2nd quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock worth $261,000 after buying an additional 29 shares during the last quarter. NerdWallet Wealth Partners LLC boosted its stake in Visa by 4.5% during the second quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock worth $239,000 after buying an additional 30 shares during the period. Planned Solutions Inc. boosted its stake in Visa by 2.0% during the fourth quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after buying an additional 31 shares during the period. Frederick Financial Consultants LLC increased its position in Visa by 2.0% during the fourth quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after acquiring an additional 31 shares during the last quarter. Finally, Kuhn & Co Investment Counsel raised its stake in shares of Visa by 0.5% in the fourth quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock valued at $2,138,000 after acquiring an additional 32 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.2%

NYSE:V opened at $366.31 on Friday. The company has a market cap of $653.65 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.74. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $373.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $352.75 and a 200-day simple moving average of $329.35.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. The firm had revenue of $11.63 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.98 earnings per share. Analysts anticipate that Visa Inc. will post 13.16 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa’s payout ratio is 22.79%.

Visa announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent analyst reports. Susquehanna reaffirmed a “positive” rating and set a $427.00 price target (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Evercore set a $350.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $412.00 price objective (up from $395.00) on shares of Visa in a research note on Wednesday, July 29th. Erste Group Bank upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, July 27th. Finally, Barclays began coverage on Visa in a research note on Tuesday, July 7th. They set an “overweight” rating and a $420.00 target price on the stock. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $413.58.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 20,970 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $340.25, for a total value of $7,135,042.50. Following the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $5,162,953.50. This represents a 58.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This trade represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 90,759 shares of company stock worth $32,375,779 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.