Gentry Private Wealth LLC Invests $488,000 in Visa Inc. (NYSE:V)

Gentry Private Wealth LLC bought a new position in Visa Inc. (NYSE:V) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,859 shares of the credit-card processor’s stock, valued at approximately $488,000.

A number of other hedge funds have also modified their holdings of the stock. Westend Capital Management LLC acquired a new stake in Visa during the 1st quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in Visa during the 4th quarter valued at $25,000. POM Investment Strategies LLC increased its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Visa during the 4th quarter valued at $33,000. Finally, TruNorth Capital Management LLC increased its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of Visa stock opened at $279.48 on Friday. The company has a market capitalization of $509.30 billion, a PE ratio of 31.23, a PEG ratio of 1.98 and a beta of 0.96. 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’s fifty day simple moving average is $266.53 and its 200 day simple moving average is $273.14.

Visa (NYSE:V) last issued 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 EPS. On average, research analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is 23.24%.

Analysts Set New Price Targets

A number of research firms recently weighed in on V. Evercore ISI dropped their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Citigroup dropped their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group decreased their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. TD Cowen decreased their price objective on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Bank of America reiterated a “neutral” rating and issued a $297.00 price objective (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $309.54.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.