Premier Path Wealth Partners LLC Reduces Holdings in Visa Inc. (NYSE:V)

Premier Path Wealth Partners LLC reduced its stake in Visa Inc. (NYSE:V) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,701 shares of the credit-card processor’s stock after selling 93 shares during the period. Premier Path Wealth Partners LLC’s holdings in Visa were worth $2,809,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Visa in the 4th quarter worth approximately $3,895,015,000. National Bank of Canada FI boosted its holdings in Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after acquiring an additional 4,099,122 shares in the last quarter. Swedbank AB purchased a new position in Visa during the 1st quarter valued at $511,321,000. GQG Partners LLC raised its holdings in Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Visa by 14,306.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V traded down $0.50 during trading on Friday, hitting $267.44. The company’s stock had a trading volume of 3,697,448 shares, compared to its average volume of 7,178,655. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The firm has a market cap of $489.13 billion, a price-to-earnings ratio of 29.88, a P/E/G 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. The company has a 50-day moving average of $265.93 and a 200-day moving average of $273.30.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 EPS. On average, sell-side analysts expect that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is 23.24%.

Analyst Ratings Changes

A number of research firms recently issued reports on V. Royal Bank of Canada decreased their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Citigroup lowered their target price on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Morgan Stanley reduced their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Evercore ISI lowered their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Six research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $308.50.

Visa 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.