CarsonAllaria Wealth Management Ltd. Makes New Investment in Visa Inc. (NYSE:V)

CarsonAllaria Wealth Management Ltd. bought a new stake in Visa Inc. (NYSE:V) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 134 shares of the credit-card processor’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds have also made changes to their positions in V. Long Run Wealth Advisors LLC raised its holdings in Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after acquiring an additional 37 shares in the last quarter. Alaethes Wealth LLC raised its holdings in shares of 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 purchasing an additional 37 shares during the period. Jessup Wealth Management Inc raised its holdings in shares of 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 purchasing an additional 37 shares during the period. Cordatus Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 37 shares during the period. Finally, Aurora Private Wealth Inc. raised its holdings in shares of Visa by 3.8% during the first quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock worth $289,000 after purchasing an additional 38 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of Visa stock traded up $1.57 during trading on Tuesday, reaching $268.04. The company’s stock had a trading volume of 6,734,110 shares, compared to its average volume of 7,221,004. The stock has a 50-day moving average price of $266.10 and a two-hundred day moving average price of $273.43. 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 Inc. has a one year low of $227.78 and a one year high of $290.96. The stock has a market capitalization of $488.45 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during 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 company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $2.16 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. Visa’s payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. TD Cowen decreased their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Evercore ISI reduced their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Piper Sandler reduced their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, UBS Group upped their price objective on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $308.50.

About Visa

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.