Aspen Investment Management Inc Purchases 186 Shares of Visa Inc. $V

Aspen Investment Management Inc boosted its position in Visa Inc. (NYSE:V) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,334 shares of the credit-card processor’s stock after acquiring an additional 186 shares during the period. Visa accounts for 1.2% of Aspen Investment Management Inc’s portfolio, making the stock its 18th largest position. Aspen Investment Management Inc’s holdings in Visa were worth $2,570,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in V. Keystone Global Partners LLC bought a new position in Visa in the first quarter valued at about $26,000. von Borstel & Associates Inc. bought a new position in Visa in the first quarter valued at about $27,000. 1 North Wealth Services LLC bought a new position in Visa in the first quarter valued at about $38,000. Measured Risk Portfolios Inc. bought a new position in Visa in the fourth quarter valued at about $47,000. Finally, O Brien Wealth Partners LLC bought a new position in Visa in the first quarter valued at about $54,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.5%

Shares of Visa stock opened at $344.11 on Wednesday. The business’s 50 day simple moving average is $348.03 and its 200 day simple moving average is $347.13. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The firm has a market cap of $630.68 billion, a PE ratio of 33.60, a P/E/G ratio of 2.28 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the firm earned $2.42 EPS. Visa’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on V. Jefferies Financial Group raised their price target on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Morgan Stanley raised their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Raymond James Financial restated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Finally, Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $385.96.

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.