Invst LLC buys 793 shares of Visa Inc. (NYSE:V)

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Invst LLC grew its holdings in Visa Inc. (NYSE:V – Free Report) by 21.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,534 shares of the credit card processor’s stock after buying an additional 793 shares during the period. Invst LLC’s holdings in Visa were worth $1,194,000 at the end of the most recent quarter.

A number of other hedge funds have recently bought and sold shares of the company. Hilltop National Bank bought a new position in shares of Visa in the first quarter valued at about $1,212,000. Absolute Capital Management LLC purchased a new stake in shares of Visa in the first quarter valued at $404,000. 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 in the last quarter. Empirical Finance LLC boosted its stake in Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit card processor’s stock worth $12,761,000 after buying an additional 1,914 shares during the period. Finally, Arjuna Capital increased its holdings in Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit card processor’s stock valued at $3,111,000 after buying an additional 96 of shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s shares.

Visa stock up 1.3%

Shares of Visa opened at $275.17 on Monday. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The company has a fifty day moving average price of $271.31 and a 200 day moving average price of $273.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37, and a quick ratio of 1.37. The stock has a market cap of $503.27 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 1.92 and a beta of 0.96.

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Visa (NYSE:V – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The credit card processor reported $2.42 earnings per share 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 business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. In the same quarter last year, the company earned $2.16 per share. The company’s quarterly revenue was up 9.6% year over year. Equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents an annualized dividend of $2.08 and a yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9. Visa’s dividend payout ratio is currently 23.24%.

Insider buying and selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. 0.19% of shares are currently held by company insiders.

Analysts on Wall Street are forecasting an increase

Several analysts have issued reports on shares of V. Jefferies Financial Group cut their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note for Wednesday, July 24. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. 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 report on Wednesday, July 24th. Goldman Sachs Group reiterated a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Finally, TD Cowen cut their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.22.

Read the latest stock report on V

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 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.