Absoluto Partners Gestao de Recursos Ltda Has $3.32 Million Holdings in Visa Inc. $V

Absoluto Partners Gestao de Recursos Ltda boosted its stake in shares of Visa Inc. (NYSE:V) by 23.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,339 shares of the credit-card processor’s stock after acquiring an additional 1,764 shares during the quarter. Visa makes up approximately 2.0% of Absoluto Partners Gestao de Recursos Ltda’s holdings, making the stock its 12th biggest holding. Absoluto Partners Gestao de Recursos Ltda’s holdings in Visa were worth $3,316,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Keystone Global Partners LLC bought a new stake in Visa in the first quarter valued at about $26,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new stake in Visa in the 2nd quarter valued at $29,000. Sagard Holdings Management Inc. bought a new stake in Visa in the 2nd quarter valued at approximately $31,000. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of a number of recent research reports. Hsbc Global Res raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Robert W. Baird set a $425.00 target price on shares of Visa in a report on Wednesday, October 29th. Evercore ISI set a $380.00 price objective on shares of Visa in a research note on Friday. Bank of America raised shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective on the stock in a research report on Thursday. Finally, Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Five research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $402.52.

Visa Trading Up 0.6%

Shares of Visa stock opened at $347.83 on Friday. The firm’s 50 day moving average is $337.70 and its 200 day moving average is $345.34. The firm has a market capitalization of $633.65 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the business posted $2.71 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is 26.25%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,042 shares of company stock valued at $8,175,152. 0.13% of the stock is currently owned by company insiders.

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.