Summit Trail Advisors LLC Grows Stock Holdings in Visa Inc. (NYSE:V)

Summit Trail Advisors LLC grew its holdings in Visa Inc. (NYSE:V) by 0.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 19,035 shares of the credit-card processor’s stock after acquiring an additional 118 shares during the quarter. Summit Trail Advisors LLC’s holdings in Visa were worth $4,996,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Alaethes Wealth LLC grew its holdings in Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 37 shares during the last quarter. Jessup Wealth Management Inc raised its position in shares of Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after buying an additional 37 shares during the last quarter. Long Run Wealth Advisors LLC boosted its position in shares of Visa by 2.5% during the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after acquiring an additional 37 shares in the last quarter. Cordatus Wealth Management LLC boosted its holdings in shares of Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC increased its holdings in Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research analyst reports. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Morgan Stanley lowered their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Evercore ISI cut their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Compass Point assumed coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $284.67 on Friday. The company has a 50 day moving average of $270.65 and a 200 day moving average of $273.49. The firm has a market cap of $518.76 billion, a P/E ratio of 31.81, a PEG ratio of 2.05 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $8.92 billion. During the same period in the prior year, the company posted $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

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.