Visa Inc. (NYSE:V) is GFG Capital LLC’s 9th Largest Position

GFG Capital LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,280 shares of the credit-card processor’s stock after acquiring an additional 295 shares during the period. Visa comprises about 2.7% of GFG Capital LLC’s investment portfolio, making the stock its 9th biggest holding. GFG Capital LLC’s holdings in Visa were worth $10,572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of V. Vanguard Group Inc. raised its stake in shares of Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares in the last quarter. Capital International Investors increased its holdings in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares during the last quarter. Capital World Investors raised its stake in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares in the last quarter. Norges Bank bought a new position in Visa during the 4th quarter worth approximately $3,895,015,000. Finally, Jennison Associates LLC grew its position in shares of Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after acquiring an additional 85,123 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of Visa stock traded up $1.57 on Tuesday, hitting $268.04. The company had a trading volume of 6,734,110 shares, compared to its average volume of 7,221,004. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $488.45 billion, a PE ratio of 29.79, a PEG ratio of 1.89 and a beta of 0.95. The business has a 50-day simple moving average of $266.24 and a 200-day simple moving average of $273.50.

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

Visa Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Piper Sandler reduced their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. UBS Group increased their price objective on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. lifted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $308.50.

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.