Alta Wealth Advisors LLC Has $935,000 Holdings in Visa Inc. (NYSE:V)

Alta Wealth Advisors LLC lessened its position in Visa Inc. (NYSE:V) by 1.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,561 shares of the credit-card processor’s stock after selling 59 shares during the period. Alta Wealth Advisors LLC’s holdings in Visa were worth $935,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Nadler Financial Group Inc. grew its stake in Visa by 2.4% in the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after acquiring an additional 44 shares during the period. Hilltop National Bank purchased a new position in shares of Visa during the first quarter valued at approximately $1,212,000. TCI Wealth Advisors Inc. boosted its position in shares of Visa by 0.8% during the fourth 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 during the last quarter. Absolute Capital Management LLC purchased a new position in shares of Visa during the first quarter valued at approximately $404,000. Finally, SageView Advisory Group LLC boosted its position in shares of Visa by 40.4% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of Visa stock traded down $0.50 during trading hours on Friday, reaching $267.44. The company had a trading volume of 3,697,448 shares, compared to its average volume of 7,178,655. The firm has a market cap of $489.13 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. 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 business has a fifty day simple moving average of $265.93 and a 200 day simple moving average of $273.30.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. On average, analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on V. Morgan Stanley reduced their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. TD Cowen decreased their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note 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. Citigroup decreased their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Mizuho lifted their price target on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.