Visa Inc. (NYSE:V) Shares Acquired by Harfst & Associates Inc.

Harfst & Associates Inc. grew its position in Visa Inc. (NYSE:V) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,343 shares of the credit-card processor’s stock after purchasing an additional 157 shares during the quarter. Visa makes up 0.6% of Harfst & Associates Inc.’s investment portfolio, making the stock its 22nd largest position. Harfst & Associates Inc.’s holdings in Visa were worth $2,715,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Verus Capital Partners LLC raised its stake in Visa by 4.1% during the 2nd quarter. Verus Capital Partners LLC now owns 8,319 shares of the credit-card processor’s stock worth $2,183,000 after acquiring an additional 329 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in Visa by 3.1% during the 2nd quarter. Resonant Capital Advisors LLC now owns 19,359 shares of the credit-card processor’s stock worth $5,081,000 after acquiring an additional 575 shares in the last quarter. Flaharty Asset Management LLC acquired a new stake in Visa during the 2nd quarter worth $252,000. Embree Financial Group raised its stake in Visa by 7.4% during the 2nd quarter. Embree Financial Group now owns 1,299 shares of the credit-card processor’s stock worth $341,000 after acquiring an additional 90 shares in the last quarter. Finally, United Asset Strategies Inc. raised its stake in Visa by 28.5% during the 2nd quarter. United Asset Strategies Inc. now owns 14,362 shares of the credit-card processor’s stock worth $3,770,000 after acquiring an additional 3,181 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

V opened at $276.37 on Tuesday. The company has a fifty day simple moving average of $265.70 and a 200 day simple moving average of $273.05. The firm has a market cap of $503.63 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.95 and a beta of 0.96. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The company 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%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $2.16 EPS. Equities research analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given 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%.

Wall Street Analyst Weigh In

A number of research firms have commented on V. Evercore ISI dropped their price objective 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. Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group dropped their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Bank of America restated a “neutral” rating and issued a $297.00 price objective (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to 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.