Edgestream Partners L.P. Purchases 2,096 Shares of Visa Inc. (NYSE:V)

Edgestream Partners L.P. lifted its position in shares of Visa Inc. (NYSE:V) by 27.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,860 shares of the credit-card processor’s stock after purchasing an additional 2,096 shares during the period. Edgestream Partners L.P.’s holdings in Visa were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in shares of Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC acquired a new stake in Visa during the 1st quarter valued at approximately $25,000. POM Investment Strategies LLC raised its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC boosted 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 purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Visa Stock Performance

NYSE V opened at $288.46 on Thursday. 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 firm has a market cap of $525.66 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 2.05 and a beta of 0.96. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The company has a fifty day moving average price of $269.81 and a 200-day moving average price of $273.38.

Visa (NYSE:V) last posted 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 company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the company earned $2.16 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada decreased their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Morgan Stanley dropped their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group reduced their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

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.