United Asset Strategies Inc. Increases Position in Visa Inc. (NYSE:V)

United Asset Strategies Inc. boosted its holdings in shares of Visa Inc. (NYSE:V) by 28.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,362 shares of the credit-card processor’s stock after acquiring an additional 3,181 shares during the period. United Asset Strategies Inc.’s holdings in Visa were worth $3,770,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Westend Capital Management LLC purchased a new stake in Visa during the 1st quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Visa in the 4th quarter valued at approximately $25,000. POM Investment Strategies LLC grew its stake in shares of 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 buying an additional 97 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $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 valued at $34,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V opened at $276.37 on Tuesday. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The firm’s fifty day simple moving average is $265.70 and its 200-day simple moving average is $273.05. The firm has a market capitalization of $503.63 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.95 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the business earned $2.16 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on V shares. Bank of America reissued a “neutral” rating and issued a $297.00 price target (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Piper Sandler dropped their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Citigroup decreased their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.