Flaharty Asset Management LLC Takes $252,000 Position in Visa Inc. (NYSE:V)

Flaharty Asset Management LLC purchased a new position in shares of Visa Inc. (NYSE:V) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 960 shares of the credit-card processor’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Embree Financial Group lifted its stake in shares of Visa by 7.4% during the 2nd quarter. Embree Financial Group now owns 1,299 shares of the credit-card processor’s stock worth $341,000 after acquiring an additional 90 shares during the last quarter. United Asset Strategies Inc. lifted its stake in shares of Visa by 28.5% during the 2nd quarter. United Asset Strategies Inc. now owns 14,362 shares of the credit-card processor’s stock worth $3,770,000 after acquiring an additional 3,181 shares during the last quarter. PrairieView Partners LLC lifted its stake in shares of Visa by 47.5% during the 2nd quarter. PrairieView Partners LLC now owns 1,357 shares of the credit-card processor’s stock worth $356,000 after acquiring an additional 437 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of Visa by 1.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 342,670 shares of the credit-card processor’s stock worth $89,942,000 after acquiring an additional 3,802 shares during the last quarter. Finally, FFT Wealth Management LLC lifted its stake in shares of Visa by 58.8% during the 2nd quarter. FFT Wealth Management LLC now owns 2,103 shares of the credit-card processor’s stock worth $552,000 after acquiring an additional 779 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

V stock opened at $276.37 on Tuesday. 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 50 day simple moving average of $265.70 and a 200-day simple moving average of $273.05. The firm has a market capitalization of $503.63 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.16 earnings per share. Equities research analysts anticipate that Visa Inc. will post 9.92 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 paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on V shares. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada cut their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Morgan Stanley cut their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report 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 given a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price 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.