Visa Inc. (NYSE:V) Shares Bought by Rodgers Brothers Inc.

Rodgers Brothers Inc. grew its position in shares of Visa Inc. (NYSE:V) by 64.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,857 shares of the credit-card processor’s stock after acquiring an additional 725 shares during the quarter. Rodgers Brothers Inc.’s holdings in Visa were worth $518,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Alaethes Wealth LLC raised its stake in Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 37 shares in the last quarter. Jessup Wealth Management Inc raised its stake in Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after acquiring an additional 37 shares in the last quarter. Long Run Wealth Advisors LLC raised its stake in Visa by 2.5% during the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after acquiring an additional 37 shares in the last quarter. Cordatus Wealth Management LLC raised its stake in Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC raised its stake in Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Macquarie restated an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Wednesday. Citigroup lowered their target price on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday. UBS Group raised their target price on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lowered their target price on Visa from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Piper Sandler lowered their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $304.77.

Visa Stock Up 2.3 %

Visa stock traded up $5.72 during midday trading on Friday, reaching $259.46. The stock had a trading volume of 7,043,122 shares, compared to its average volume of 6,913,615. The firm’s fifty day simple moving average is $270.45 and its 200-day simple moving average is $274.25. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The stock has a market capitalization of $474.54 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 1.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.40 and a current ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for 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%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.16 EPS. As a group, analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors 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 dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is presently 23.24%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

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.