Callan Capital LLC Increases Stock Position in Visa Inc. (NYSE:V)

Callan Capital LLC grew its stake in shares of Visa Inc. (NYSE:V) by 9.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,438 shares of the credit-card processor’s stock after acquiring an additional 209 shares during the quarter. Callan Capital LLC’s holdings in Visa were worth $640,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in V. Canada Pension Plan Investment Board boosted its holdings in shares of Visa by 11.0% in the second quarter. Canada Pension Plan Investment Board now owns 1,167,929 shares of the credit-card processor’s stock worth $306,546,000 after buying an additional 115,487 shares during the last quarter. Davidson Capital Management Inc. boosted its holdings in shares of Visa by 20.8% in the second quarter. Davidson Capital Management Inc. now owns 11,206 shares of the credit-card processor’s stock worth $2,941,000 after buying an additional 1,931 shares during the last quarter. Joseph Group Capital Management boosted its holdings in shares of Visa by 12.1% in the second quarter. Joseph Group Capital Management now owns 11,186 shares of the credit-card processor’s stock worth $2,936,000 after buying an additional 1,203 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Visa by 3.7% in the second quarter. Benjamin Edwards Inc. now owns 4,236 shares of the credit-card processor’s stock worth $1,112,000 after buying an additional 153 shares during the last quarter. Finally, AR Asset Management Inc. bought a new stake in Visa during the 2nd quarter worth approximately $210,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 1.1 %

NYSE:V opened at $285.25 on Friday. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07. The company has a 50-day moving average of $270.27 and a 200 day moving average of $273.46. The firm has a market cap of $519.81 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) 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 company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the firm posted $2.16 EPS. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed 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%.

Analysts Set New Price Targets

A number of equities research analysts have commented on V shares. Morgan Stanley decreased their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Citigroup reduced their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group reduced their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI reduced their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six equities 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, the stock has an average rating of “Moderate Buy” and an average target price of $310.22.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.