Deane Retirement Strategies Inc. Has $2.35 Million Stock Position in Visa Inc. (NYSE:V)

Deane Retirement Strategies Inc. raised its stake in Visa Inc. (NYSE:V) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,559 shares of the credit-card processor’s stock after buying an additional 57 shares during the period. Deane Retirement Strategies Inc.’s holdings in Visa were worth $2,353,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. J. W. Coons Advisors LLC raised its stake in shares of Visa by 1.2% during the fourth quarter. J. W. Coons Advisors LLC now owns 9,446 shares of the credit-card processor’s stock valued at $2,459,000 after acquiring an additional 108 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the fourth quarter valued at $33,000. CFS Investment Advisory Services LLC raised its stake in shares of Visa by 11.4% during the fourth quarter. CFS Investment Advisory Services LLC now owns 2,387 shares of the credit-card processor’s stock valued at $621,000 after acquiring an additional 245 shares during the last quarter. Kolinsky Wealth Management LLC raised its stake in shares of Visa by 1.6% during the fourth quarter. Kolinsky Wealth Management LLC now owns 3,765 shares of the credit-card processor’s stock valued at $980,000 after acquiring an additional 61 shares during the last quarter. Finally, Prudential PLC raised its stake in shares of Visa by 1.1% during the fourth quarter. Prudential PLC now owns 150,427 shares of the credit-card processor’s stock valued at $39,164,000 after acquiring an additional 1,695 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $276.86 on Friday. The firm has a market cap of $506.36 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The firm’s 50-day simple moving average is $272.63 and its two-hundred day simple moving average is $273.12.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Royal Bank of Canada lowered their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Morgan Stanley reissued an “overweight” rating and set a $322.00 target price on shares of Visa in a research note on Wednesday, September 25th. Finally, Piper Sandler lowered their target price 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. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $312.04.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’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 value of $2,382,309.40. Following 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

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.