J. Stern & Co. LLP Raises Holdings in Visa Inc. (NYSE:V)

J. Stern & Co. LLP grew its holdings in Visa Inc. (NYSE:V) by 39.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,847 shares of the credit-card processor’s stock after buying an additional 3,070 shares during the quarter. Visa comprises 0.3% of J. Stern & Co. LLP’s investment portfolio, making the stock its 20th biggest holding. J. Stern & Co. LLP’s holdings in Visa were worth $2,847,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Hilltop National Bank purchased a new position in Visa in the first quarter valued at about $1,212,000. Absolute Capital Management LLC acquired a new position in Visa during the first quarter worth $404,000. Davidson Capital Management Inc. boosted its position in Visa by 0.5% during the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares in the last quarter. Empirical Finance LLC grew its holdings in Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares during the last quarter. Finally, Arjuna Capital increased its position in shares of Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

Visa Trading Down 0.2 %

V stock opened at $284.77 on Monday. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The company has a market cap of $520.83 billion, a price-to-earnings ratio of 31.82, 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. The business has a fifty day simple moving average of $270.65 and a 200-day simple moving average of $273.40.

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

Visa Announces Dividend

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

Analyst Ratings Changes

Several research firms recently commented on V. Royal Bank of Canada decreased their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI reduced their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America raised their price target on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $310.22.

About Visa

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.