Doheny Asset Management CA Makes New Investment in Visa Inc. (NYSE:V)

Doheny Asset Management CA acquired a new position in Visa Inc. (NYSE:V) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,090 shares of the credit-card processor’s stock, valued at approximately $286,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares in the last quarter. Capital International Investors boosted its position in Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors boosted its position in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares in the last quarter. Norges Bank purchased a new stake in Visa in the 4th quarter worth approximately $3,895,015,000. Finally, Fisher Asset Management LLC boosted its position in Visa by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock worth $2,317,162,000 after purchasing an additional 166,767 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

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

Analysts Set New Price Targets

Several research firms have commented on V. Citigroup lowered their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Bank of America reaffirmed 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. Royal Bank of Canada reduced their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note 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 for the company 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $309.54.

Visa Trading Up 2.2 %

NYSE V opened at $285.61 on Tuesday. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The firm has a 50 day moving average of $266.97 and a two-hundred day moving average of $273.12. 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 stock has a market capitalization of $520.47 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96.

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

Visa Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

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.