Visa Inc. (NYSE:V) Shares Bought by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. increased its position in shares of Visa Inc. (NYSE:V) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,030 shares of the credit-card processor’s stock after acquiring an additional 1,489 shares during the period. Visa comprises 1.5% of Edgemoor Investment Advisors Inc.’s investment portfolio, making the stock its 17th biggest position. Edgemoor Investment Advisors Inc.’s holdings in Visa were worth $15,756,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brio Consultants LLC grew its position in shares of Visa by 39.1% during the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after buying an additional 437 shares in the last quarter. Gilbert & Cook Inc. lifted its stake in Visa by 2.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock valued at $1,466,000 after buying an additional 158 shares during the last quarter. Aveo Capital Partners LLC raised its stake in shares of Visa by 9.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock worth $730,000 after purchasing an additional 235 shares during the last quarter. 9258 Wealth Management LLC raised its stake in shares of Visa by 20.8% during the fourth quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock worth $2,094,000 after purchasing an additional 1,387 shares during the last quarter. Finally, Gryphon Financial Partners LLC raised its stake in shares of Visa by 53.8% during the fourth quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock worth $3,282,000 after purchasing an additional 4,774 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler reduced 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 reduced their target price on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada cut their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.54.

Insider Activity

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

Visa Price Performance

Shares of NYSE V traded up $5.33 during mid-day trading on Monday, reaching $284.70. The company had a trading volume of 1,331,778 shares, compared to its average volume of 7,090,079. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $518.81 billion, a PE ratio of 31.21, a P/E/G ratio of 1.97 and a beta of 0.96. The company has a 50-day moving average price of $266.53 and a two-hundred day moving average price of $273.11. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96.

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

Visa Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.73%. Visa’s dividend payout ratio is 23.24%.

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.