Everhart Financial Group Inc. Buys 432 Shares of Visa Inc. (NYSE:V)

Everhart Financial Group Inc. boosted its position in shares of Visa Inc. (NYSE:V) by 4.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,233 shares of the credit-card processor’s stock after buying an additional 432 shares during the quarter. Everhart Financial Group Inc.’s holdings in Visa were worth $2,539,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC raised its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Visa in the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC lifted its position in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in Visa in the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Visa in the second quarter valued at $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on V shares. Morgan Stanley boosted their target price on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Macquarie boosted their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Finally, Piper Sandler raised their price target on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $310.98 on Tuesday. The firm’s 50 day simple moving average is $283.95 and its 200 day simple moving average is $274.67. Visa Inc. has a fifty-two week low of $244.11 and a fifty-two week high of $312.44. The company has a market capitalization of $566.70 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

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, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business posted $2.33 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is presently 21.38%.

Visa 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.