Visa Inc. (NYSE:V) Shares Purchased by Altus Wealth Group LLC

Altus Wealth Group LLC grew its position in shares of Visa Inc. (NYSE:V) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,817 shares of the credit-card processor’s stock after purchasing an additional 49 shares during the period. Visa makes up about 0.9% of Altus Wealth Group LLC’s holdings, making the stock its 29th largest holding. Altus Wealth Group LLC’s holdings in Visa were worth $1,789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hilltop National Bank acquired a new stake in Visa during the 1st quarter worth approximately $1,212,000. Absolute Capital Management LLC purchased a new position in Visa in the first quarter valued at $404,000. SageView Advisory Group LLC boosted its holdings in Visa by 40.4% in the fourth quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after purchasing an additional 7,236 shares during the period. Davidson Capital Management Inc. increased its holdings in Visa by 0.5% during the 1st 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 during the period. Finally, Empirical Finance LLC increased its holdings in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Trading Down 0.7 %

Shares of Visa stock opened at $278.62 on Friday. The company has a 50-day moving average of $266.18 and a two-hundred day moving average of $273.14. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $509.58 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 1.95 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The business 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 business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $2.16 earnings per share. On average, research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on V shares. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada lowered their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group dropped their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, TD Cowen decreased their target price on Visa from $320.00 to $318.00 and set a “buy” 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $309.54.

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.