Visa Inc. (NYSE:V) Shares Purchased by Graypoint LLC

Graypoint LLC raised its position in Visa Inc. (NYSE:V) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,853 shares of the credit-card processor’s stock after purchasing an additional 677 shares during the quarter. Graypoint LLC’s holdings in Visa were worth $4,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Livelsberger Financial Advisory purchased a new stake in Visa during the 4th quarter worth $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the first quarter worth about $25,000. POM Investment Strategies LLC lifted its stake in shares of 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 in the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC grew its stake in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. Citigroup reduced 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. TD Cowen decreased their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI cut their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $308.50.

Visa Price Performance

Shares of NYSE V traded up $2.05 during mid-day trading on Friday, reaching $276.37. 6,296,089 shares of the company traded hands, compared to its average volume of 8,839,052. The firm has a market cap of $503.63 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 1.95 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 fifty-two week low of $227.78 and a fifty-two week high of $290.96. The stock has a fifty day simple moving average of $265.70 and a 200-day simple moving average of $273.11.

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 analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s payout ratio is currently 23.24%.

About Visa

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.