Alley Investment Management Company LLC Buys 276 Shares of Visa Inc. (NYSE:V)

Alley Investment Management Company LLC boosted its position in shares of Visa Inc. (NYSE:V) by 27.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,268 shares of the credit-card processor’s stock after acquiring an additional 276 shares during the period. Alley Investment Management Company LLC’s holdings in Visa were worth $333,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Alaethes Wealth LLC grew its stake in shares of Visa by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after buying an additional 37 shares during the period. Jessup Wealth Management Inc grew its position in Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after acquiring an additional 37 shares during the period. Cordatus Wealth Management LLC increased its stake in Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC raised its position in Visa by 1.8% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after purchasing an additional 38 shares during the period. Finally, Tlwm lifted its stake in shares of Visa by 0.7% in the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $272.93 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07. The stock has a 50 day moving average price of $271.12 and a 200 day moving average price of $273.42. The company has a market capitalization of $497.36 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the firm posted $2.16 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Research analysts predict 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. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on V. Bank of America boosted 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. Evercore ISI decreased their price objective 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. Compass Point started coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Morgan Stanley cut 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. Finally, JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Six equities research 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. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Insider Activity

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

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.