Ghisallo Capital Management LLC Takes $38.03 Million Position in Visa Inc. (NYSE:V)

Ghisallo Capital Management LLC purchased a new position in shares of Visa Inc. (NYSE:V) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 144,881 shares of the credit-card processor’s stock, valued at approximately $38,027,000. Visa accounts for approximately 2.4% of Ghisallo Capital Management LLC’s portfolio, making the stock its 12th biggest holding.

Other hedge funds have also bought and sold shares of the company. Livelsberger Financial Advisory purchased a new stake in shares of Visa during the 4th quarter worth approximately $25,000. Westend Capital Management LLC bought a new stake in shares of Visa in the first quarter valued at approximately $25,000. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of Visa in the fourth quarter valued at 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 purchasing an additional 89 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 1.0 %

Shares of Visa stock opened at $277.62 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50-day moving average of $271.71 and a 200 day moving average of $273.07. The firm has a market cap of $507.75 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.94 and a beta of 0.96. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $2.16 EPS. As a group, sell-side analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on V. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada decreased their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Evercore ISI decreased their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Citigroup decreased their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.93.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

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.