Visa Inc. (NYSE:V) Shares Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 11,135.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 403,365 shares of the credit-card processor’s stock after purchasing an additional 399,775 shares during the period. Visa makes up 0.5% of Strategic Financial Concepts LLC’s holdings, making the stock its 28th biggest position. Strategic Financial Concepts LLC’s holdings in Visa were worth $105,871,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Livelsberger Financial Advisory acquired a new position in shares of Visa in the 4th quarter valued at $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the 1st quarter worth about $25,000. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa during the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC increased its stake 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 valued at $34,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.3 %

Shares of NYSE:V opened at $279.37 on Friday. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company’s 50 day moving average is $266.53 and its two-hundred day moving average is $273.13. The company has a market cap of $509.10 billion, a PE ratio of 31.21, a P/E/G ratio of 1.98 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Visa Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 transaction, 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 SEC, which is available at this link. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. Citigroup decreased their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Royal Bank of Canada decreased their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. TD Cowen cut their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Piper Sandler reduced their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Compass Point began coverage on Visa in a research note on Wednesday. They issued a “buy” rating and a $319.00 price target on the stock. Six equities research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $309.54.

Visa Company Profile

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.