Riversedge Advisors LLC Increases Stake in Visa Inc. (NYSE:V)

Riversedge Advisors LLC raised its holdings in Visa Inc. (NYSE:V) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,247 shares of the credit-card processor’s stock after purchasing an additional 62 shares during the period. Riversedge Advisors LLC’s holdings in Visa were worth $327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of V. Livelsberger Financial Advisory purchased a new stake in Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC purchased a new position in Visa in the first quarter worth $25,000. POM Investment Strategies LLC increased its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in Visa in the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Evercore ISI cut their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. TD Cowen decreased their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Bank of America reissued a “neutral” rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada lowered their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $308.50.

Visa Stock Performance

V opened at $269.19 on Thursday. The firm has a market cap of $490.55 billion, a P/E ratio of 30.08, a PEG ratio of 1.89 and a beta of 0.95. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The company has a 50 day simple moving average of $265.81 and a two-hundred day simple moving average of $273.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 EPS. Equities analysts forecast that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

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.