Vest Financial LLC Raises Stake in Visa Inc. (NYSE:V)

Vest Financial LLC lifted its position in shares of Visa Inc. (NYSE:V) by 27.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 82,363 shares of the credit-card processor’s stock after purchasing an additional 17,617 shares during the quarter. Vest Financial LLC’s holdings in Visa were worth $21,618,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in Visa during the 4th quarter worth approximately $25,000. Westend Capital Management LLC acquired a new position in Visa during the 1st quarter worth approximately $25,000. POM Investment Strategies LLC lifted its position in Visa by 970.0% during the 2nd 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 acquired a new position in Visa during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC raised its position in shares of Visa by 211.9% in 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. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.5 %

NYSE:V opened at $285.37 on Friday. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The stock has a market cap of $520.03 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 2.00 and a beta of 0.96. The business has a fifty day moving average of $267.95 and a 200-day moving average of $273.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on V shares. Piper Sandler cut their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group cut their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI cut their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $309.81.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

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.