Brookstone Capital Management boosted its position in shares of Visa Inc. (NYSE:V – Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,519 shares of the credit-card processor’s stock after acquiring an additional 771 shares during the period. Brookstone Capital Management’s holdings in Visa were worth $7,216,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Freedom LLC bought a new stake in Visa during the fourth quarter worth about $32,000. Ridgewood Investments LLC bought a new stake in shares of Visa in the 1st quarter worth approximately $35,000. Kalos Management Inc. purchased a new stake in Visa during the 1st quarter valued at about $40,000. NewSquare Capital LLC grew its holdings in shares of Visa by 121.9% in the first quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock worth $48,000 after purchasing an additional 117 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC increased its stake in shares of Visa by 666.7% in the first quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock worth $52,000 after buying an additional 200 shares during the period. 81.35% of the stock is currently owned by hedge funds and other institutional investors.
Visa Stock Up 1.5 %
NYSE V opened at $244.64 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12 month low of $174.60 and a 12 month high of $250.06. The stock’s 50 day moving average is $241.67 and its 200 day moving average is $232.37. The stock has a market cap of $455.48 billion, a PE ratio of 31.05, a P/E/G ratio of 1.81 and a beta of 0.95.
Visa Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.74%. Visa’s payout ratio is 22.84%.
Analysts Set New Price Targets
V has been the subject of a number of analyst reports. Citigroup increased their target price on shares of Visa from $273.00 to $275.00 in a report on Wednesday, July 26th. Robert W. Baird reissued an “outperform” rating and issued a $284.00 target price on shares of Visa in a research report on Thursday, September 14th. Credit Suisse Group upped their price target on Visa from $265.00 to $275.00 in a research note on Wednesday, July 26th. Truist Financial increased their price target on shares of Visa from $270.00 to $275.00 in a research note on Wednesday, July 26th. Finally, StockNews.com assumed coverage on shares of Visa in a report on Thursday, August 17th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $273.77.
Insider Transactions at Visa
In other news, insider Rajat Taneja sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $552,000.00. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $55,706,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 425 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $240.00, for a total transaction of $102,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rajat Taneja sold 2,300 shares of Visa stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $552,000.00. Following the completion of the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $55,706,880. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,550 shares of company stock valued at $19,795,806. 0.21% of the stock is currently owned by insiders.
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.
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