North Point Portfolio Managers Corp OH has $20.34M stock position in Visa Inc. (NYSE:V)

VaselineAugust 31, 2024

0 4 minutes read

North Point Portfolio Managers Corp OH reduced its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,488 shares of the credit card processor’s stock after selling 2,595 shares during the period. Visa makes up about 3.6% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 3rd largest holding. North Point Portfolio Managers Corp OH’s holdings in Visa were worth $20,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hilltop National Bank purchased a new position in shares of Visa in the first quarter worth about $1,212,000. TCI Wealth Advisors Inc. raised its holdings in shares of Visa by 0.8% during the 4th quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit card processor’s stock worth $1,330,000 after acquiring an additional 40 shares during the period. Absolute Capital Management LLC purchased a new position in shares of Visa in the first quarter worth approximately $404,000. SageView Advisory Group LLC grew its holdings in shares of Visa by 40.4% during the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit card processor’s stock worth $6,967,000 after acquiring an additional 7,236 shares during the period. Finally, Davidson Capital Management Inc. raised its holdings in shares of Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit card processor’s stock worth $2,588,000 after acquiring an additional 44 shares during the period. Institutional investors own 82.15% of the company’s shares.

Analysts set new price targets

A number of research analysts have weighed in on shares of V. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada reduced their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Bank of America reaffirmed a “neutral” rating and set a $297.00 price objective (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, TD Cowen decreased their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Moderate Buy” and a consensus price target of $308.50, based on data from MarketBeat.com.

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Visa price performance

NYSE V opened at $276.37 on Friday. The company has a market cap of $505.46 billion, a PE ratio of 30.88, a price-to-earnings-growth 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. The company’s fifty day moving average is $265.67 and its 200 day moving average is $273.12. Visa Inc. it has a fifty-two week low of $227.78 and a fifty-two week high of $290.96.

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 for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. In the same period last year, the company earned $2.16 per share. Sell-side analysts predict that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed 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 is Friday, August 9. This represents an annualized dividend of $2.08 and a dividend yield of 0.75%. 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.