Fortis Capital Advisors LLC Has $1.61 Million Stock Holdings in Visa Inc. $V

Fortis Capital Advisors LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,547 shares of the credit-card processor’s stock after purchasing an additional 108 shares during the period. Fortis Capital Advisors LLC’s holdings in Visa were worth $1,614,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Keystone Global Partners LLC acquired a new stake in Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the first quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the second quarter valued at $28,000. Cranbrook Wealth Management LLC grew its holdings 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 worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in shares of Visa in the 1st quarter worth about $38,000. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Down 0.2%

NYSE:V opened at $349.21 on Tuesday. The company has a market cap of $640.03 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 2.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s fifty day moving average price is $343.65 and its two-hundred day moving average price is $346.89. Visa Inc. has a 52-week low of $273.24 and a 52-week high of $375.51.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate 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 period last year, the firm earned $2.42 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the 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 transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on V. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Saturday, September 27th. Finally, Morgan Stanley lifted their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $389.00.

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.