MONECO Advisors LLC has $1.87M stock position in Visa Inc. (NYSE:V)

MONECO Advisors LLC reduced its position in Visa Inc. (NYSE:V – Free Report) by 2.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 7,125 shares of the credit card processor’s stock after selling 164 shares during the period. MONECO Advisors LLC’s holdings in Visa were worth $1,870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors grew 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 worth $6,578,025,000 after purchasing an additional 626,618 shares during the period. Capital World Investors raised its stake in shares of 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 buying an additional 968,008 shares during the period. Norges Bank acquired a new stake in shares of Visa in the fourth quarter valued at $3,895,015,000. Finally, Jennison Associates LLC grew its stake in Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit card processor’s stock worth $3,078,408,000 after purchasing an additional 85,123 shares during the period. 82.15% of shares are owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

A number of research firms have issued reports on V. Macquarie reissued an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Evercore ISI cut their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Oppenheimer boosted their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. 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 a consensus price target of $307.25, according to MarketBeat.com.

Read our latest report on Visa

Visa stock up 0.1%

V traded up $0.14 on Monday, hitting $267.52. 838,650 shares of the company traded hands, compared to its average volume of 7,187,678. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The company has a market cap of $489.28 billion, a PE ratio of 29.84, a PEG ratio of 1.84 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. The stock’s fifty-day moving average is $266.41, and its 200-day moving average is $273.57.

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

Visa announces dividends

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a dividend of $2.08 on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Visa Company Profile

(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.

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