Iron Horse Wealth Management LLC Takes $61,000 Position in Visa Inc. (NYSE:V)

Iron Horse Wealth Management LLC acquired a new stake in Visa Inc. (NYSE:V) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 233 shares of the credit-card processor’s stock, valued at approximately $61,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Westend Capital Management LLC acquired a new position in Visa during the first quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in Visa during the fourth quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new position in Visa during the fourth quarter worth $33,000. TruNorth Capital Management LLC boosted its stake in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its stake in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on V shares. Royal Bank of Canada decreased their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group decreased their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer increased their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Morgan Stanley decreased their target price on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $308.50.

Visa Stock Performance

Shares of NYSE V traded up $0.10 during mid-day trading on Wednesday, hitting $268.15. The company had a trading volume of 6,639,302 shares, compared to its average volume of 7,217,395. The firm has a market cap of $490.42 billion, a P/E ratio of 29.96, a PEG ratio of 1.89 and a beta of 0.95. 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 12 month low of $227.78 and a 12 month high of $290.96. The business’s 50-day simple moving average is $266.06 and its 200-day simple moving average is $273.40.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 earnings per share. As a group, analysts predict that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

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

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.