Callan Family Office LLC Has $48.42 Million Stock Holdings in Visa Inc. $V

Callan Family Office LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 6.6% in the second quarter, Holdings Channel.com reports. The firm owned 141,136 shares of the credit-card processor’s stock after purchasing an additional 8,788 shares during the quarter. Visa makes up 0.9% of Callan Family Office LLC’s holdings, making the stock its 15th largest holding. Callan Family Office LLC’s holdings in Visa were worth $48,423,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Visa during the fourth quarter worth $5,877,738,000. Cardano Risk Management B.V. lifted its position in Visa by 867.6% in the 4th quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after acquiring an additional 7,364,762 shares in the last quarter. Diamant Asset Management Inc. lifted its position in Visa by 29,706.3% in the 1st quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock valued at $2,216,310,000 after acquiring an additional 7,308,345 shares in the last quarter. J. Stern & Co. LLP boosted its stake in Visa by 12,497.1% in the 4th quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock worth $1,184,712,000 after purchasing an additional 3,351,223 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Visa by 48.2% in the 4th quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock worth $2,282,472,000 after purchasing an additional 2,116,463 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel owned 18,404 shares in the company, valued at approximately $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total value of $3,608,455.10. Following the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,219,704.26. This trade represents a 40.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 90,759 shares of company stock valued at $32,375,779. 0.12% of the stock is owned by insiders.

Visa Stock Up 1.5%

Visa stock opened at $371.09 on Friday. The company has a market cap of $662.18 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 1.96 and a beta of 0.74. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $373.97. The company has a fifty day simple moving average of $353.73 and a 200 day simple moving average of $329.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60.

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

Visa declared that its board has authorized a stock repurchase plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Visa Announces Dividend

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

Analyst Ratings Changes

A number of research firms have issued reports on V. Robert W. Baird increased their target price on Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Citigroup restated a “buy” rating and issued a $440.00 price target (up from $400.00) on shares of Visa in a report on Wednesday, July 29th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $432.00 price objective (up from $412.00) on shares of Visa in a research report on Thursday, July 30th. Morgan Stanley reiterated an “overweight” rating and set a $416.00 price objective on shares of Visa in a report on Wednesday, July 29th. Finally, BMO Capital Markets lifted their target price on Visa from $387.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $413.58.

About Visa

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.