Robbins Farley Acquires 609 Shares of Visa Inc. (NYSE:V)

Robbins Farley grew its stake in shares of Visa Inc. (NYSE:V) by 4.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,825 shares of the credit-card processor’s stock after purchasing an additional 609 shares during the quarter. Visa makes up approximately 2.1% of Robbins Farley’s investment portfolio, making the stock its 18th largest position. Robbins Farley’s holdings in Visa were worth $3,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Nadler Financial Group Inc. grew its holdings in Visa by 2.4% during the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after acquiring an additional 44 shares in the last quarter. Andrew Hill Investment Advisors Inc. purchased a new stake in Visa during the fourth quarter worth $3,427,000. Knights of Columbus Asset Advisors LLC grew its stake in Visa by 1.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 75,421 shares of the credit-card processor’s stock valued at $19,636,000 after purchasing an additional 795 shares during the last quarter. Hilltop National Bank bought a new position in shares of Visa during the 1st quarter worth approximately $1,212,000. Finally, TCI Wealth Advisors Inc. lifted its holdings in shares of Visa by 0.8% during the 4th quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after purchasing an additional 40 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

V has been the topic of a number of research reports. Robert W. Baird increased their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Macquarie reissued an “outperform” rating and set a $300.00 price target on shares of Visa in a report on Wednesday, July 24th. Citigroup cut their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Six investment 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 MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $307.25.

Visa Stock Performance

NYSE:V traded up $5.67 during trading hours on Thursday, reaching $266.81. 7,397,535 shares of the company’s stock were exchanged, compared to its average volume of 7,241,343. The company has a 50-day moving average of $266.84 and a 200 day moving average of $273.69. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $486.21 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 1.83 and a beta of 0.95.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the business posted $2.16 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 9.91 EPS for the current year.

Visa Announces Dividend

The firm 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

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.