Patriot Financial Group Insurance Agency LLC Boosts Stock Position in Visa Inc. (NYSE:V)

Patriot Financial Group Insurance Agency LLC grew its holdings in Visa Inc. (NYSE:V) by 8.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,034 shares of the credit-card processor’s stock after buying an additional 1,048 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Visa were worth $3,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hilltop National Bank purchased a new stake in shares of Visa during the first quarter worth approximately $1,212,000. TCI Wealth Advisors Inc. grew its holdings in Visa by 0.8% in 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 buying an additional 40 shares in the last quarter. Absolute Capital Management LLC purchased a new stake in Visa in the 1st quarter valued at $404,000. SageView Advisory Group LLC grew its holdings in Visa by 40.4% in the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after buying an additional 7,236 shares in the last quarter. Finally, Davidson Capital Management Inc. grew its holdings in Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after buying an additional 44 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE:V traded up $2.51 during mid-day trading on Tuesday, reaching $270.72. 6,593,242 shares of the stock were exchanged, compared to its average volume of 7,159,572. The company has a 50 day simple moving average of $265.87 and a 200-day simple moving average of $273.18. The stock has a market capitalization of $495.13 billion, a P/E ratio of 30.25, a P/E/G ratio of 1.89 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data 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 company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the firm earned $2.16 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

Several analysts have issued reports on V shares. Bank of America restated a “neutral” rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Mizuho upped their price target on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. TD Cowen decreased their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Morgan Stanley decreased their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company 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.