Visa Inc. (NYSE:V) Shares Bought by SPC Financial Inc.

SPC Financial Inc. lifted its holdings in shares of Visa Inc. (NYSE:V) by 8.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,921 shares of the credit-card processor’s stock after acquiring an additional 458 shares during the period. SPC Financial Inc.’s holdings in Visa were worth $1,554,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new stake in shares of Visa during the fourth quarter worth about $25,000. Westend Capital Management LLC acquired a new stake in Visa during the 1st quarter valued at approximately $25,000. POM Investment Strategies LLC boosted its holdings 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 acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at $33,000. Finally, TruNorth Capital Management LLC raised its holdings 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 during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 in the company, valued at $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on V. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Bank of America boosted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Piper Sandler reduced their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $310.22.

Visa Price Performance

V stock opened at $274.77 on Tuesday. The stock has a market capitalization of $502.54 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The stock’s fifty day simple moving average is $271.45 and its 200-day simple moving average is $273.11. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07. 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 (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 EPS. Equities research analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid 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 yield of 0.76%. 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.