Halbert Hargrove Global Advisors LLC Increases Stake in Visa Inc. $V

Halbert Hargrove Global Advisors LLC grew its stake in Visa Inc. (NYSE:V) by 75.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 749 shares of the credit-card processor’s stock after buying an additional 323 shares during the quarter. Halbert Hargrove Global Advisors LLC’s holdings in Visa were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keystone Global Partners LLC purchased a new position in shares of Visa in the 1st quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa in the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa in the 2nd quarter valued at about $28,000. Cranbrook Wealth Management LLC boosted its stake in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the period. Finally, 1 North Wealth Services LLC purchased a new position in shares of Visa in the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on V. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Finally, Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $385.96.

Visa Price Performance

Shares of NYSE V opened at $345.97 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a twelve month low of $273.24 and a twelve month high of $375.51. The stock has a 50 day moving average of $343.92 and a two-hundred day moving average of $346.60. The stock has a market cap of $634.09 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.06 and a beta of 0.90.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the business earned $2.42 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.