Townsend & Associates Inc Makes New $213,000 Investment in Visa Inc. $V

Townsend & Associates Inc bought a new position in Visa Inc. (NYSE:V) during the second quarter, Holdings Channel.com reports. The institutional investor bought 597 shares of the credit-card processor’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CORDA Investment Management LLC. increased its holdings in shares of Visa by 0.7% during the 2nd quarter. CORDA Investment Management LLC. now owns 5,804 shares of the credit-card processor’s stock worth $2,061,000 after buying an additional 41 shares during the last quarter. Lyell Wealth Management LP increased its holdings in shares of Visa by 7.4% during the 2nd quarter. Lyell Wealth Management LP now owns 52,274 shares of the credit-card processor’s stock worth $18,560,000 after buying an additional 3,586 shares during the last quarter. Accretive Wealth Partners LLC increased its holdings in shares of Visa by 0.9% during the 2nd quarter. Accretive Wealth Partners LLC now owns 4,340 shares of the credit-card processor’s stock worth $1,541,000 after buying an additional 38 shares during the last quarter. Alaska Wealth Advisors acquired a new stake in shares of Visa during the 2nd quarter worth approximately $356,000. Finally, Mountain Capital Investment Advisors Inc. increased its holdings in shares of Visa by 5.4% during the 2nd quarter. Mountain Capital Investment Advisors Inc. now owns 5,102 shares of the credit-card processor’s stock worth $1,814,000 after buying an additional 263 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on V shares. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Macquarie lifted their target price on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $392.75.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $345.10 on Thursday. The company has a fifty day simple moving average of $344.72 and a two-hundred day simple moving average of $347.09. The company has a market cap of $632.50 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.42 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm 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. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s payout ratio is 23.05%.

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.