Joseph Group Capital Management Purchases 1,203 Shares of Visa Inc. (NYSE:V)

Joseph Group Capital Management boosted its position in Visa Inc. (NYSE:V) by 12.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,186 shares of the credit-card processor’s stock after purchasing an additional 1,203 shares during the quarter. Visa comprises about 1.5% of Joseph Group Capital Management’s portfolio, making the stock its 21st biggest holding. Joseph Group Capital Management’s holdings in Visa were worth $2,936,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Livelsberger Financial Advisory acquired a new stake in shares of Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC acquired a new position in Visa in the 1st quarter valued at $25,000. POM Investment Strategies LLC lifted its position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa during the 4th quarter worth $33,000. Finally, TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of V opened at $285.25 on Friday. The business has a 50-day moving average of $270.27 and a 200-day moving average of $273.46. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The company has a market capitalization of $519.81 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly 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. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the previous year, the company earned $2.16 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analyst Upgrades and Downgrades

V has been the topic of a number of analyst reports. Piper Sandler reduced their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. TD Cowen lowered their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group reduced their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.