Visa Inc. (NYSE:V) Shares Bought by Columbia Asset Management

Columbia Asset Management boosted its stake in Visa Inc. (NYSE:V) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 59,557 shares of the credit-card processor’s stock after buying an additional 445 shares during the period. Visa makes up 2.9% of Columbia Asset Management’s portfolio, making the stock its 8th largest holding. Columbia Asset Management’s holdings in Visa were worth $15,632,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Livelsberger Financial Advisory bought a new stake in shares of Visa in the fourth quarter valued at about $25,000. Westend Capital Management LLC bought a new stake in Visa in the 1st quarter valued at about $25,000. POM Investment Strategies LLC grew its position in shares of 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 purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the fourth quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC raised its position in shares of Visa by 211.9% in the second 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 in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 0.7 %

Visa stock opened at $278.62 on Friday. The company has a market capitalization of $509.58 billion, a PE ratio of 31.13, a PEG ratio of 1.95 and a beta of 0.95. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The firm’s fifty day moving average is $266.18 and its 200 day moving average is $273.14. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its quarterly 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 business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the business earned $2.16 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen decreased their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Morgan Stanley decreased their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Royal Bank of Canada cut their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Macquarie reissued an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $309.54.

Insider Activity at Visa

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

Visa Company 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.