Patron Partners LLC Has $1.17 Million Stock Position in Visa Inc. (NYSE:V)

Patron Partners LLC grew its stake in shares of Visa Inc. (NYSE:V) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,447 shares of the credit-card processor’s stock after acquiring an additional 155 shares during the period. Patron Partners LLC’s holdings in Visa were worth $1,167,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in V. Norges Bank bought a new stake in Visa in the 4th quarter valued at about $3,895,015,000. National Bank of Canada FI boosted its stake in shares of Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB bought a new stake in shares of Visa in the first quarter valued at approximately $511,321,000. GQG Partners LLC grew its position in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after acquiring an additional 1,489,856 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $148,687.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $279.37 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a fifty day simple moving average of $266.53 and a two-hundred day simple moving average of $273.14. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The firm has a market capitalization of $509.10 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96.

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

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on V. Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Bank of America restated a “neutral” rating and set a $297.00 target price (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Citigroup decreased their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. TD Cowen dropped their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group reduced their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $309.54.

Visa Company 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.