Quarry LP Increases Holdings in Visa Inc. (NYSE:V)

Quarry LP lifted its holdings in Visa Inc. (NYSE:V) by 310.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 468 shares of the credit-card processor’s stock after purchasing an additional 354 shares during the quarter. Quarry LP’s holdings in Visa were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Livelsberger Financial Advisory purchased a new stake in Visa during the fourth quarter valued at $25,000. Westend Capital Management LLC bought a new stake in Visa during the first quarter valued at about $25,000. POM Investment Strategies LLC grew its holdings in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Visa during the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC grew its holdings in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on V shares. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. TD Cowen dropped their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $310.93.

Visa Trading Up 1.0 %

Shares of V stock opened at $277.62 on Wednesday. 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 stock’s 50 day simple moving average is $271.71 and its two-hundred day simple moving average is $273.07. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The company has a market cap of $507.75 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96.

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 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 the consensus estimate of $8.92 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

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 $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s 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.