Riversedge Advisors LLC owns $327,000 worth of Visa Inc shares. (NYSE:V)

VaselineAugust 29, 2024

0 4 minutes read

Riversedge Advisors LLC raised its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,247 shares of the credit card processor’s stock after purchasing an additional 62 shares during the quarter. Riversedge Advisors LLC’s holdings in Visa were worth $327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of V. Vanguard Group Inc. raised its stake in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit card processor’s stock valued at $39,685,966,000 after acquiring an additional 788,908 shares during the period. Capital International Investors boosted its stake in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors boosted its stake in Visa by 5.4% in the first 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 during the period. Norges Bank acquired a new stake in Visa during the fourth quarter valued at about $3,895,015,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Visa by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit card processor’s stock worth $2,725,079,000 after purchasing an additional 141,566 shares in the last quarter. Institutional investors own 82.15% of the company’s shares.

The Wall Street analyst weighs in

A number of equities analysts recently issued reports on shares of V. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Macquarie reissued an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Morgan Stanley cut their price target on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Citigroup decreased their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Moderate Buy” and an average price target of $308.50, according to MarketBeat.

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Visa trading down 0.6%

Shares of V opened at $269.19 on Thursday. The company’s fifty-day moving average is $265.81, and its 200-day moving average is $273.14. The firm has a market cap of $490.55 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 1.89 and a beta of 0.95. 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. it has a 52-week low of $227.78 and a 52-week high of $290.96.

Visa (NYSE:V – Get Your Free Report ) last posted its quarterly earnings data on Tuesday, July 23rd. The credit card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s quarterly revenue was up 9.6% year over year. In the same quarter last year, the business earned $2.16 EPS. Equity analysts anticipate that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9. This represents an annualized dividend of $2.08 and a dividend yield of 0.77%. Visa’s payout rate is 23.24%.

About Visa

(Free Report)

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables the 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 payment solution for consumers; and Visa DPS, which offers a range of value-added services including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions and contact center services.