Visa Inc. (NYSE:V) Shares Purchased by McClarren Financial Advisors Inc.

McClarren Financial Advisors Inc. boosted its stake in shares of Visa Inc. (NYSE:V) by 581.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,049 shares of the credit-card processor’s stock after acquiring an additional 895 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in Visa were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Long Run Wealth Advisors LLC boosted its position in shares of Visa by 2.5% during the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after purchasing an additional 37 shares in the last quarter. Alaethes Wealth LLC lifted its stake in shares of Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 37 shares during the period. Jessup Wealth Management Inc grew its position in Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the period. Cordatus Wealth Management LLC lifted its position in shares of Visa by 0.3% during the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after acquiring an additional 37 shares during the period. Finally, Garden State Investment Advisory Services LLC boosted its stake in shares of Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after acquiring an additional 38 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group cut their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. TD Cowen dropped their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada decreased their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $308.50.

Visa Stock Performance

Shares of NYSE V traded down $1.53 during midday trading on Wednesday, hitting $269.19. The company’s stock had a trading volume of 5,392,844 shares, compared to its average volume of 7,148,934. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm’s fifty day moving average price is $265.87 and its 200-day moving average price is $273.18. The firm has a market cap of $492.33 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.89 and a beta of 0.95. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96.

Visa (NYSE:V) last posted its earnings results 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 analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. On average, sell-side analysts forecast that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

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

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.