Joseph Group Capital Management Has $2.94 Million Stock Holdings in Visa Inc. (NYSE:V)

Joseph Group Capital Management raised its position in Visa Inc. (NYSE:V) by 12.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 11,186 shares of the credit-card processor’s stock after buying an additional 1,203 shares during the period. Visa comprises approximately 1.5% of Joseph Group Capital Management’s holdings, making the stock its 21st largest holding. Joseph Group Capital Management’s holdings in Visa were worth $2,936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. Brio Consultants LLC grew its holdings in Visa by 39.1% during the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after acquiring an additional 437 shares during the period. Gilbert & Cook Inc. boosted its position in shares of Visa by 2.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after purchasing an additional 158 shares during the last quarter. Aveo Capital Partners LLC grew its stake in shares of Visa by 9.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock worth $730,000 after purchasing an additional 235 shares during the period. 9258 Wealth Management LLC increased its holdings in Visa by 20.8% in the fourth quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock valued at $2,094,000 after purchasing an additional 1,387 shares during the last quarter. Finally, Gryphon Financial Partners LLC lifted its stake in Visa by 53.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after buying an additional 4,774 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on V shares. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Morgan Stanley reduced their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lowered their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Visa Stock Down 1.1 %

NYSE:V opened at $285.25 on Friday. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. The firm has a market capitalization of $519.81 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average price is $270.27 and its two-hundred day moving average price is $273.46.

Visa (NYSE:V) last issued its 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 net margin of 54.72% and a return on equity of 51.94%. 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 previous year, the company earned $2.16 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.73%. Visa’s payout ratio is 23.24%.

Insider Activity at Visa

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

About Visa

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.