Visa Inc. (NYSE:V) Stake Boosted by Hendershot Investments Inc.

Hendershot Investments Inc. raised its holdings in shares of Visa Inc. (NYSE:V) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,357 shares of the credit-card processor’s stock after purchasing an additional 770 shares during the period. Visa comprises about 2.4% of Hendershot Investments Inc.’s portfolio, making the stock its 12th largest holding. Hendershot Investments Inc.’s holdings in Visa were worth $16,892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of V. Westend Capital Management LLC bought a new position in Visa during the 1st quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in shares of Visa during the fourth quarter valued at $25,000. POM Investment Strategies LLC grew its position in shares of 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 during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa in the 4th quarter worth about $33,000. Finally, TruNorth Capital Management LLC lifted its position in 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 last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Down 0.7 %

V stock opened at $278.62 on Friday. 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 50-day moving average of $266.18 and a two-hundred day moving average of $273.14. The stock has a market capitalization of $509.58 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.95 and a beta of 0.95. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $2.16 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is presently 23.24%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on V. Citigroup decreased their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Piper Sandler lowered their price objective 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. Morgan Stanley cut their target price on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $309.54.

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.