Abacus Planning Group Inc. Has $307,000 Position in Visa Inc. (NYSE:V)

Abacus Planning Group Inc. boosted its holdings in shares of Visa Inc. (NYSE:V) by 7.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,169 shares of the credit-card processor’s stock after buying an additional 84 shares during the period. Abacus Planning Group Inc.’s holdings in Visa were worth $307,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Livelsberger Financial Advisory acquired a new stake in shares of Visa in the 4th quarter valued at $25,000. Westend Capital Management LLC acquired a new stake in shares of Visa in the 1st quarter valued at $25,000. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa in the 4th quarter valued at $33,000. Finally, TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.7 %

Shares of NYSE:V traded up $2.05 during midday trading on Friday, reaching $276.37. 6,296,089 shares of the company were exchanged, compared to its average volume of 7,134,793. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week 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 stock has a fifty day simple moving average of $265.70 and a two-hundred day simple moving average of $273.13. The firm has a market cap of $505.46 billion, a PE ratio of 30.88, a P/E/G ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last issued 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. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the business posted $2.16 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. Evercore ISI reduced their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Bank of America reiterated a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reduced their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, Piper Sandler decreased their price target on shares of Visa from $322.00 to $319.00 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.