Financial Gravity Asset Management Inc. boosted its holdings in Visa Inc. (NYSE:V – Free Report) by 606.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 452 shares of the credit-card processor’s stock after acquiring an additional 388 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Visa were worth $119,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the business. Hilltop National Bank acquired a new stake in shares of Visa in the 1st quarter worth approximately $1,212,000. Absolute Capital Management LLC acquired a new stake in Visa in the first quarter valued at $404,000. SageView Advisory Group LLC raised its stake in shares of Visa by 40.4% during the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock worth $6,967,000 after buying an additional 7,236 shares during the last quarter. Davidson Capital Management Inc. raised its stake in shares of Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after buying an additional 44 shares during the last quarter. Finally, Empirical Finance LLC boosted its position in shares of Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after buying an additional 1,914 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Analysts Set New Price Targets
V has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Macquarie restated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Evercore ISI decreased their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Bank of America reissued a “neutral” rating and issued a $297.00 target price (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Finally, Morgan Stanley decreased their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.54.
Visa Stock Up 0.3 %
Shares of NYSE V opened at $279.37 on Friday. The stock has a fifty day moving average price of $266.53 and a 200 day moving average price of $273.13. 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 Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The company has a market cap of $510.95 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.98 and a beta of 0.96.
Visa (NYSE:V – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. Research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. Visa’s payout ratio is currently 23.24%.
Insider Activity
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.
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.
See Also
- Five stocks we like better than Visa
- What Are the U.K. Market Holidays? How to Invest and Trade
- GE Vernova’s Rally Could Continue as Wind Business Gains Ground
- 3 Tickers Leading a Meme Stock Revival
- DraftKings vs. DoubleDown: Growth in the Online Gambling Boom
- With Risk Tolerance, One Size Does Not Fit All
- Join UiPath’s AI Surge and Catch the Coming Stock Price Reversal
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.