Denver PWM LLC Makes New Investment in Visa Inc. (NYSE:V)

Denver PWM LLC purchased a new position in Visa Inc. (NYSE:V) during the 2nd quarter, HoldingsChannel reports. The firm purchased 359 shares of the credit-card processor’s stock, valued at approximately $94,000.

A number of other hedge funds also recently added to or reduced their stakes in V. Livelsberger Financial Advisory bought a new stake in Visa during the 4th quarter valued at $25,000. Westend Capital Management LLC bought a new stake in Visa in the first quarter worth about $25,000. POM Investment Strategies LLC lifted its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC grew its stake 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 worth $34,000 after purchasing an additional 89 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on V shares. Macquarie reaffirmed an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Royal Bank of Canada reduced their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. TD Cowen dropped their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday. Finally, Bank of America reiterated a “neutral” rating and set a $297.00 price objective (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $309.54.

Visa Stock Performance

NYSE V opened at $278.62 on Friday. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The firm has a 50-day moving average price of $266.18 and a two-hundred day moving average price of $273.14. The company has a market capitalization of $509.58 billion, a P/E ratio of 31.13, a P/E/G 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 (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS 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 company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the business earned $2.16 earnings per share. Visa’s revenue was up 9.6% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, 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 is available through the SEC website. Company insiders own 0.19% of the company’s stock.

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.