Visa Inc. (NYSE:V) Position Raised by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd lifted its position in shares of Visa Inc. (NYSE:V) by 64.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 67,327 shares of the credit-card processor’s stock after acquiring an additional 26,295 shares during the period. Visa accounts for 1.1% of Point72 Hong Kong Ltd’s portfolio, making the stock its 18th biggest holding. Point72 Hong Kong Ltd’s holdings in Visa were worth $17,671,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Westend Capital Management LLC bought a new position in Visa in the 1st quarter worth about $25,000. Livelsberger Financial Advisory acquired a new position in shares of Visa during the fourth quarter worth approximately $25,000. POM Investment Strategies LLC grew its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Visa in the 4th quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC boosted its position in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 5.4 %

Shares of Visa stock opened at $272.93 on Wednesday. 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 Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The stock has a 50-day moving average price of $271.12 and a 200 day moving average price of $273.42. The company has a market cap of $497.36 billion, a P/E ratio of 30.49, a P/E/G ratio of 2.04 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $2.16 earnings per share. As a group, analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent analyst reports. Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, Piper Sandler decreased their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s 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 owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

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.