Bridges Investment Management Inc. Acquires 237,761 Shares of Visa Inc. (NYSE:V)

Bridges Investment Management Inc. raised its holdings in shares of Visa Inc. (NYSE:V) by 114.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 444,615 shares of the credit-card processor’s stock after acquiring an additional 237,761 shares during the period. Visa makes up 1.8% of Bridges Investment Management Inc.’s holdings, making the stock its 14th largest position. Bridges Investment Management Inc.’s holdings in Visa were worth $116,698,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Livelsberger Financial Advisory bought a new stake in Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC acquired a new position in shares of Visa in the 1st quarter valued at $25,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% in the 2nd 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. Frank Rimerman Advisors LLC acquired a new stake in Visa during the 4th quarter worth $33,000. Finally, TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on V. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. 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 report on Tuesday, September 3rd. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Piper Sandler decreased their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Visa Trading Down 1.1 %

Shares of NYSE:V opened at $285.25 on Friday. The business’s 50 day simple moving average is $270.27 and its 200 day simple moving average is $273.46. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $519.81 billion, a P/E ratio of 31.87, a P/E/G ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 earnings per share. On average, research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio is currently 23.24%.

Visa Company 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.