New Century Financial Group LLC Has $1.48 Million Position in Visa Inc. (NYSE:V)

New Century Financial Group LLC grew its stake in Visa Inc. (NYSE:V) by 23.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,627 shares of the credit-card processor’s stock after buying an additional 1,054 shares during the period. New Century Financial Group LLC’s holdings in Visa were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Livelsberger Financial Advisory bought a new stake in Visa during the fourth quarter valued at $25,000. Westend Capital Management LLC bought a new stake in shares of Visa during the 1st quarter valued at about $25,000. POM Investment Strategies LLC grew its stake in Visa by 970.0% during the second 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 period. Frank Rimerman Advisors LLC bought a new stake in Visa in the fourth quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC lifted its stake in Visa by 211.9% in the second 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. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on V shares. Piper Sandler lowered their price objective 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. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. 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 report on Wednesday, July 24th. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Price Performance

Shares of NYSE V opened at $274.77 on Tuesday. The company has a market capitalization of $502.54 billion, a PE ratio of 30.70, a PEG ratio of 1.94 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average price is $271.45 and its 200-day moving average price is $273.11. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07.

Visa (NYSE:V) last posted its quarterly earnings data 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 business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Visa 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.