EdgeRock Capital LLC Buys 322 Shares of Visa Inc. (NYSE:V)

EdgeRock Capital LLC raised its stake in Visa Inc. (NYSE:V) by 21.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,846 shares of the credit-card processor’s stock after acquiring an additional 322 shares during the quarter. EdgeRock Capital LLC’s holdings in Visa were worth $485,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Livelsberger Financial Advisory bought a new position in Visa during the 4th quarter worth $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the first quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new position in Visa in the fourth quarter valued at about $33,000. TruNorth Capital Management LLC lifted its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC acquired a new stake in Visa during the second quarter worth about $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 0.2 %

Shares of NYSE V traded down $0.50 during midday trading on Friday, reaching $267.44. The stock had a trading volume of 3,697,448 shares, compared to its average volume of 7,178,655. The company’s 50 day moving average price is $265.93 and its 200 day moving average price is $273.30. 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 Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The firm has a market cap of $489.13 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the business posted $2.16 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 9.91 EPS for the current year.

Visa Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. Visa’s payout ratio is currently 23.24%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on V shares. Morgan Stanley cut their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Piper Sandler cut their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company 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 on the stock in a research note on Wednesday, July 24th. Bank of America reissued a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Six equities 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.