Ellis Investment Partners LLC increases holdings in Visa Inc. (NYSE:V)

Ellis Investment Partners LLC grew its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 55.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,214 shares of the credit card processor’s stock after acquiring an additional 431 shares during the period. Ellis Investment Partners LLC’s holdings in Visa were worth $319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have recently modified their holdings of the stock. Alaethes Wealth LLC boosted its position in Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit card processor’s stock worth $2,302,000 after purchasing an additional 37 shares in the last quarter. Jessup Wealth Management Inc raised its stake in Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit card processor’s stock worth $1,410,000 after purchasing an additional 37 shares in the last quarter. Long Run Wealth Advisors LLC lifted its position in shares of Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit card processor’s stock valued at $424,000 after purchasing an additional 37 shares in the last quarter. Cordatus Wealth Management LLC boosted its holdings in Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit card processor’s stock worth $3,012,000 after acquiring an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC boosted its stake in Visa by 1.8% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit card processor’s stock valued at $571,000 after acquiring an additional 38 shares during the period. Institutional investors own 82.15% of the company’s shares.

Visa stock performance

Shares of V stock opened at $279.37 on Monday. The company has a 50 day simple moving average of $266.53 and a two hundred day simple moving average of $273.11. The stock has a market cap of $509.10 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.97 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37, and a debt-to-equity ratio of 0.54. 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 results on Tuesday, July 23rd. The credit card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% year over year. In the same period last year, the company earned $2.16 per share. On average, analysts expect that Visa Inc. to post 9.92 EPS for the current year.

Visa announces dividends

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9. This represents an annualized dividend of $2.08 and a yield of 0.74%. Visa’s payout rate is 23.24%.

The Wall Street analyst weighs in

A number of brokerages have weighed in on V. JPMorgan Chase & Co. upped their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Bank of America reissued a “neutral” rating and set a $297.00 target price (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Piper Sandler cut their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Compass Point initiated coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Visa has a consensus rating of “Moderate Buy” and a consensus price target of $309.54, according to MarketBeat.

Read the latest research report on Visa

Insider buying and selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Insiders own 0.19% of the company’s shares.

Visa 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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Want to see what other hedge funds own V? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Visa Inc. (NYSE:V – Free Report).

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