Frank Rimerman Advisors LLC Acquires 28,055 Shares of Visa Inc. (NYSE:V)

Frank Rimerman Advisors LLC lifted its holdings in Visa Inc. (NYSE:V) by 21,918.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,183 shares of the credit-card processor’s stock after acquiring an additional 28,055 shares during the period. Visa accounts for approximately 0.5% of Frank Rimerman Advisors LLC’s holdings, making the stock its 26th biggest holding. Frank Rimerman Advisors LLC’s holdings in Visa were worth $7,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Hilltop National Bank bought a new position in Visa during the first quarter valued at $1,212,000. Absolute Capital Management LLC bought a new position in Visa during the 1st quarter valued at about $404,000. Davidson Capital Management Inc. raised its position in Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares during the period. Empirical Finance LLC raised its position in Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares during the period. Finally, Arjuna Capital lifted its stake in Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Morgan Stanley lowered their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Bank of America lifted their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Trading Down 0.2 %

NYSE:V opened at $284.77 on Friday. The stock has a market capitalization of $520.83 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.05 and a beta of 0.96. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. 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 firm has a 50 day moving average of $270.65 and a 200 day moving average of $273.45.

Visa (NYSE:V) last issued its quarterly earnings data 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 return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the prior year, the business posted $2.16 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 dividend yield of 0.73%. Visa’s payout ratio is 23.24%.

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.