Eagle Strategies LLC Takes Position in Visa Inc. (NYSE:V)

Eagle Strategies LLC purchased a new stake in shares of Visa Inc. (NYSE:V) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,505 shares of the credit-card processor’s stock, valued at approximately $689,000.

Several other institutional investors and hedge funds have also modified their holdings of V. KMG Fiduciary Partners LLC lifted its stake in shares of Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the last quarter. Iron Horse Wealth Management LLC lifted its stake in shares of Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after purchasing an additional 37 shares during the last quarter. Tlwm lifted its stake in shares of Visa by 0.7% in the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after purchasing an additional 38 shares during the last quarter. Meridian Financial Partners LLC lifted its stake in shares of Visa by 0.5% in the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after purchasing an additional 38 shares during the last quarter. Finally, First National Corp MA ADV lifted its stake in shares of Visa by 1.0% in the 3rd quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock valued at $1,056,000 after purchasing an additional 38 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE V opened at $290.16 on Thursday. The stock has a market cap of $530.68 billion, a P/E ratio of 32.42, a PEG ratio of 1.95 and a beta of 0.96. The company’s 50-day simple moving average is $280.09 and its 200 day simple moving average is $273.38. Visa Inc. has a twelve month low of $232.99 and a twelve month high of $295.78. 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 earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 earnings per share. As a group, research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup lifted their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen lifted their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $320.07.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.

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.