Ashburton Jersey Ltd Buys New Shares in Visa Inc. (NYSE:V)

Ashburton Jersey Ltd purchased a new stake in Visa Inc. (NYSE:V) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 54,502 shares of the credit-card processor’s stock, valued at approximately $14,347,000. Visa makes up about 6.1% of Ashburton Jersey Ltd’s investment portfolio, making the stock its 8th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westend Capital Management LLC bought a new stake in Visa in the first quarter valued at $25,000. Livelsberger Financial Advisory bought a new stake in shares of Visa during the fourth quarter worth about $25,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Visa during the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 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 at this link. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on V. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Friday, September 27th. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $310.93.

Visa Price Performance

V stock opened at $277.01 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The firm’s fifty day moving average is $272.17 and its 200 day moving average is $273.10. The firm has a market cap of $506.63 billion, a P/E ratio of 30.95, a P/E/G ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results 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 net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the firm earned $2.16 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared 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 was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s payout ratio is currently 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.