Ellsworth Advisors LLC Buys 299 Shares of Visa Inc. (NYSE:V)

Ellsworth Advisors LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,569 shares of the credit-card processor’s stock after buying an additional 299 shares during the quarter. Ellsworth Advisors LLC’s holdings in Visa were worth $2,249,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Westend Capital Management LLC bought a new stake in shares of Visa in the 1st quarter valued at about $25,000. Livelsberger Financial Advisory bought a new stake in shares of Visa in the 4th quarter valued at about $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at about $33,000. Abich Financial Wealth Management LLC raised its holdings in shares of Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares in the last quarter. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Visa in the 2nd quarter valued at about $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.2 %

Shares of V traded up $0.56 during mid-day trading on Friday, reaching $267.36. The stock had a trading volume of 5,110,843 shares, compared to its average volume of 7,227,860. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. The business’s fifty day moving average is $266.41 and its 200 day moving average is $273.59. The firm has a market cap of $488.98 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data 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. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts predict that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

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

Analyst Ratings Changes

Several analysts have weighed in on the stock. 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 research report on Wednesday, July 10th. Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. TD Cowen dropped their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. UBS Group boosted their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group dropped their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $307.25.

Visa Company Profile

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.