United Asset Strategies Inc. increases its position in Visa Inc. (NYSE:V)

VaselineSeptember 3, 2024

0 4 minutes read

United Asset Strategies Inc. increased its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 28.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,362 shares of the credit card processor’s stock after acquiring an additional 3,181 shares during the period. Holdings of United Asset Strategies Inc. holdings in Visa were worth $3,770,000 at the end of the most recent reporting period.

Other large investors have recently bought and sold shares of the company. Westend Capital Management LLC purchased a new stake in Visa in the 1st quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new stake in shares of Visa in the 4th quarter valued at approximately $25,000. POM Investment Strategies LLC raised its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa in the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s shares.

Visa price performance

Shares of V opened at $276.37 on Tuesday. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The company’s fifty-day simple moving average is $265.70, and its 200-day simple moving average is $273.05. The firm has a market cap of $503.63 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.95 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37, and a debt-to-equity ratio of 0.54.

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Visa (NYSE:V – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, July 23rd. The credit card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates 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 period last year, the business earned $2.16 EPS. The company’s revenue increased by 9.6% year-on-year. Equities analysts estimate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa announces dividends

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. This represents a dividend of $2.08 on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, August 9. Visa’s dividend payout ratio (DPR) is 23.24%.

The Wall Street analyst weighs in

Several analysts recently weighed in on shares of V. Bank of America reissued a “neutral” rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a research note on Wednesday, July 10. Piper Sandler decreased their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Citigroup cut their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $308.50.

See our latest research report on V

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 payment 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.