Abundance Wealth Counselors Has $2.03 Million Holdings in Visa Inc. (NYSE:V)

Abundance Wealth Counselors trimmed its position in shares of Visa Inc. (NYSE:V) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,730 shares of the credit-card processor’s stock after selling 459 shares during the quarter. Visa accounts for approximately 0.9% of Abundance Wealth Counselors’ portfolio, making the stock its 20th largest holding. Abundance Wealth Counselors’ holdings in Visa were worth $2,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alaethes Wealth LLC raised its position in Visa by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after buying an additional 37 shares during the last quarter. Jessup Wealth Management Inc increased its holdings in shares of Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after purchasing an additional 37 shares in the last quarter. Long Run Wealth Advisors LLC lifted its stake in shares of Visa by 2.5% in the 1st 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 during the period. Cordatus Wealth Management LLC boosted its holdings in Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after buying an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC grew its position in Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after buying an additional 38 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Visa from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Morgan Stanley cut their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Evercore ISI reduced their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. UBS Group lifted their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Piper Sandler cut their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $307.25.

Visa Stock Up 2.2 %

Shares of Visa stock traded up $5.67 during trading on Thursday, hitting $266.81. 7,397,535 shares of the stock were exchanged, compared to its average volume of 7,241,343. 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 firm’s 50-day moving average price is $266.63 and its 200 day moving average price is $273.64. The stock has a market cap of $486.21 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during 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%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.16 earnings per share. As a group, analysts forecast that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

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 given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables 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 consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.