824 Shares in Visa Inc. (NYSE:V) Bought by Hanlon Investment Management Inc.

Hanlon Investment Management Inc. purchased a new stake in shares of Visa Inc. (NYSE:V) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 824 shares of the credit-card processor’s stock, valued at approximately $216,000.

Several other hedge funds have also recently bought and sold shares of V. Norges Bank purchased a new stake in shares of Visa during the 4th quarter valued at about $3,895,015,000. National Bank of Canada FI increased its stake in Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB acquired a new position in Visa in the 1st quarter worth $511,321,000. GQG Partners LLC boosted its position in Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Visa by 14,306.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after acquiring an additional 1,489,856 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

Visa Stock Up 0.3 %

Shares of Visa stock traded up $0.75 during trading on Friday, hitting $279.37. 7,187,805 shares of the stock traded hands, compared to its average volume of 7,125,969. The stock has a market cap of $509.10 billion, a P/E ratio of 31.23, a PEG ratio of 1.98 and a beta of 0.96. The company has a fifty day moving average price of $266.53 and a two-hundred day moving average price of $273.14. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

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

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.74%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent analyst reports. 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 report on Wednesday, July 24th. Morgan Stanley dropped their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. TD Cowen reduced their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Macquarie reiterated an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $309.54.

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.