Crown Wealth Group LLC Lowers Holdings in Visa Inc. (NYSE:V)

Crown Wealth Group LLC decreased its holdings in Visa Inc. (NYSE:V) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,403 shares of the credit-card processor’s stock after selling 39 shares during the quarter. Crown Wealth Group LLC’s holdings in Visa were worth $893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Livelsberger Financial Advisory purchased a new position in Visa in the fourth quarter worth approximately $25,000. Westend Capital Management LLC purchased a new position in Visa in the first quarter worth approximately $25,000. POM Investment Strategies LLC lifted its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC lifted its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of Visa stock traded down $1.53 during trading on Wednesday, reaching $269.19. The company’s stock had a trading volume of 5,392,022 shares, compared to its average volume of 7,149,302. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $492.33 billion, a PE ratio of 30.08, a P/E/G ratio of 1.89 and a beta of 0.95. The company has a 50-day moving average price of $265.81 and a two-hundred day moving average price of $273.14. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96.

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 the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 EPS. On average, analysts forecast that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on V shares. Macquarie reiterated an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. 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. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. TD Cowen cut their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $308.50.

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.