569 Shares in Visa Inc. $V Acquired by Edge Financial Advisors LLC

Edge Financial Advisors LLC acquired a new position in Visa Inc. (NYSE:V) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 569 shares of the credit-card processor’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Northern Trust Corp increased its holdings in Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after buying an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Visa by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock worth $4,442,157,000 after buying an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after buying an additional 1,651,954 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 1.0%

Shares of Visa stock opened at $343.63 on Monday. The company’s fifty day simple moving average is $343.77 and its 200-day simple moving average is $346.97. The company has a market cap of $629.79 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.03 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 1 year low of $275.37 and a 1 year high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $2.42 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays reiterated an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. Robert W. Baird set a $410.00 price target on Visa and gave the company an “outperform” rating in a report on Monday, October 6th. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Finally, Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

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.