Bright Rock Capital Management LLC Acquires 15,000 Shares of Visa Inc. (NYSE:V)

Bright Rock Capital Management LLC grew its holdings in Visa Inc. (NYSE:VGet Rating) by 34.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,000 shares of the credit-card processor’s stock after purchasing an additional 15,000 shares during the period. Visa comprises 3.1% of Bright Rock Capital Management LLC’s portfolio, making the stock its 5th largest holding. Bright Rock Capital Management LLC’s holdings in Visa were worth $11,420,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Trust Co. of Virginia VA increased its holdings in shares of Visa by 0.9% in the 1st quarter. Trust Co. of Virginia VA now owns 82,676 shares of the credit-card processor’s stock valued at $18,335,000 after purchasing an additional 768 shares during the period. Relyea Zuckerberg Hanson LLC grew its stake in shares of Visa by 21.4% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 3,629 shares of the credit-card processor’s stock valued at $774,000 after buying an additional 640 shares in the last quarter. Adams Chetwood Wealth Management LLC grew its stake in shares of Visa by 13.2% in the 1st quarter. Adams Chetwood Wealth Management LLC now owns 4,334 shares of the credit-card processor’s stock valued at $961,000 after buying an additional 507 shares in the last quarter. Newman Dignan & Sheerar Inc. grew its stake in shares of Visa by 1.7% in the 1st quarter. Newman Dignan & Sheerar Inc. now owns 6,088 shares of the credit-card processor’s stock valued at $1,350,000 after buying an additional 100 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC grew its stake in shares of Visa by 4.3% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 13,155 shares of the credit-card processor’s stock valued at $2,938,000 after buying an additional 548 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Visa Stock Down 0.7 %

V opened at $185.79 on Friday. Visa Inc. has a 1-year low of $184.66 and a 1-year high of $236.96. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $351.22 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 1.51 and a beta of 0.90. The business has a 50 day moving average of $206.30 and a 200-day moving average of $206.99.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were given a $0.375 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.50 annualized dividend and a dividend yield of 0.81%. Visa’s dividend payout ratio is 22.12%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial lowered their price target on Visa from $275.00 to $250.00 in a research note on Thursday, June 30th. Piper Sandler lowered their price target on Visa from $239.00 to $204.00 and set an “overweight” rating for the company in a research note on Wednesday, July 6th. Susquehanna lowered their price target on Visa from $290.00 to $260.00 in a research note on Thursday, July 28th. Wolfe Research lowered their price target on Visa from $285.00 to $260.00 in a research note on Wednesday, July 20th. Finally, Wells Fargo & Company lowered their price target on Visa from $280.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, July 13th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $257.64.

Insider Activity

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $212.11, for a total value of $1,908,990.00. Following the completion of the transaction, the chief executive officer now directly owns 156,887 shares in the company, valued at $33,277,301.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by company insiders.

About Visa

(Get Rating)

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

Featured Stories

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VGet Rating).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.