EverSource Wealth Advisors LLC Raises Stake in Visa Inc. (NYSE:V)

EverSource Wealth Advisors LLC raised its position in Visa Inc. (NYSE:V) by 26.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,630 shares of the credit-card processor’s stock after purchasing an additional 3,284 shares during the period. EverSource Wealth Advisors LLC’s holdings in Visa were worth $4,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of V. Westend Capital Management LLC acquired a new position in shares of Visa in the 1st quarter valued at $25,000. Livelsberger Financial Advisory acquired a new position in Visa in the fourth quarter valued at $25,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa during the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC increased its position in shares of 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 purchasing an additional 89 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on V shares. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Jefferies Financial Group lowered their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI reduced their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Stock Performance

Visa stock opened at $284.77 on Friday. The stock has a fifty day moving average price of $270.65 and a 200 day moving average price of $273.45. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The firm has a market capitalization of $520.83 billion, a P/E ratio of 31.82, a PEG ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 earnings per share. Equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced 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. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.

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.