Visa Inc. (NYSE:V) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. decreased its position in Visa Inc. (NYSE:V) by 1.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,691 shares of the credit-card processor’s stock after selling 70 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Visa were worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Brio Consultants LLC raised its stake in Visa by 39.1% in the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after acquiring an additional 437 shares during the last quarter. Gilbert & Cook Inc. raised its stake in shares of Visa by 2.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock valued at $1,466,000 after buying an additional 158 shares during the last quarter. Aveo Capital Partners LLC raised its stake in shares of Visa by 9.2% during the 4th quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock valued at $730,000 after buying an additional 235 shares during the last quarter. 9258 Wealth Management LLC raised its stake in shares of Visa by 20.8% during the 4th quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock valued at $2,094,000 after buying an additional 1,387 shares during the last quarter. Finally, Gryphon Financial Partners LLC raised its stake in shares of Visa by 53.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after buying an additional 4,774 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.1 %

Shares of NYSE V opened at $290.52 on Tuesday. The firm has a market cap of $529.42 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.01 and a beta of 0.96. 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 Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. The business’s 50 day moving average is $268.78 and its two-hundred day moving average is $273.21.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on V shares. Piper Sandler reduced their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group reduced their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Bank of America reiterated a “neutral” rating and set a $297.00 price objective (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Morgan Stanley reduced their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $309.81.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.