Quest Investment Management LLC Buys 482 Shares of Visa Inc. (NYSE:V)

Quest Investment Management LLC boosted its position in shares of Visa Inc. (NYSE:V) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,659 shares of the credit-card processor’s stock after purchasing an additional 482 shares during the period. Visa comprises 1.7% of Quest Investment Management LLC’s holdings, making the stock its 24th largest position. Quest Investment Management LLC’s holdings in Visa were worth $15,659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in V. Frank Rimerman Advisors LLC grew its stake in shares of Visa by 21,918.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 28,183 shares of the credit-card processor’s stock worth $7,397,000 after acquiring an additional 28,055 shares in the last quarter. ProShare Advisors LLC grew its position in Visa by 4.9% in the second quarter. ProShare Advisors LLC now owns 468,804 shares of the credit-card processor’s stock valued at $123,047,000 after purchasing an additional 22,009 shares in the last quarter. Kowal Investment Group LLC grew its position in Visa by 2.0% in the second quarter. Kowal Investment Group LLC now owns 5,431 shares of the credit-card processor’s stock valued at $1,426,000 after purchasing an additional 109 shares in the last quarter. Merriman Wealth Management LLC increased its stake in Visa by 3.6% in the 2nd quarter. Merriman Wealth Management LLC now owns 1,524 shares of the credit-card processor’s stock valued at $400,000 after buying an additional 53 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its position in Visa by 2.7% during the 2nd quarter. Connecticut Wealth Management LLC now owns 16,509 shares of the credit-card processor’s stock worth $4,333,000 after buying an additional 431 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Stock Down 0.2 %

Shares of NYSE V opened at $284.77 on Friday. The stock has a market capitalization of $520.83 billion, a P/E ratio of 31.82, a PEG ratio of 2.05 and a beta of 0.96. The stock’s fifty day moving average is $270.65 and its 200 day moving average is $273.45. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

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

Visa Dividend Announcement

The firm also recently announced 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. This represents a $2.08 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is presently 23.24%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley lowered their target price on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Compass Point began coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Citigroup cut their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Finally, Bank of America increased their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

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.