Prospect Financial Services LLC Makes New $357,000 Investment in Visa Inc. (NYSE:V)

Prospect Financial Services LLC acquired a new position in shares of Visa Inc. (NYSE:V) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,298 shares of the credit-card processor’s stock, valued at approximately $357,000.

Several other institutional investors and hedge funds also recently made changes to their positions in V. Westend Capital Management LLC acquired a new stake in Visa in the 1st quarter worth about $25,000. POM Investment Strategies LLC raised its position 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 valued at $28,000 after buying an additional 97 shares in the last quarter. TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in Visa during the second quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Visa during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Trading Down 0.5 %

Shares of V stock opened at $279.29 on Wednesday. The stock has a 50-day moving average of $275.07 and a 200-day moving average of $272.63. 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 stock has a market cap of $510.80 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07.

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 net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the business earned $2.16 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Bank of America upped their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.81.

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.