Spinnaker Trust Has $7.80 Million Stock Holdings in Visa Inc. (NYSE:V)

Spinnaker Trust raised its holdings in shares of Visa Inc. (NYSE:V) by 0.1% during the second quarter, HoldingsChannel.com reports. The firm owned 29,698 shares of the credit-card processor’s stock after acquiring an additional 43 shares during the quarter. Spinnaker Trust’s holdings in Visa were worth $7,795,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of V. Livelsberger Financial Advisory bought a new stake in Visa in the fourth quarter valued at about $25,000. Westend Capital Management LLC acquired a new stake in Visa in the first quarter worth $25,000. POM Investment Strategies LLC lifted its holdings in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa during the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC grew its position 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 during the period. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on V. TD Cowen lowered their price objective 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. Piper Sandler cut their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group decreased their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Morgan Stanley cut their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.50.

Visa Stock Performance

Shares of Visa stock traded up $2.05 on Friday, hitting $276.37. The stock had a trading volume of 6,296,089 shares, compared to its average volume of 8,839,052. The stock has a market cap of $503.63 billion, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 1.95 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 twelve month low of $227.78 and a twelve month high of $290.96. The business’s 50 day moving average is $265.70 and its two-hundred day moving average is $273.11.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 EPS. Analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid 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 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.