Brick & Kyle Associates Purchases 935 Shares of Visa Inc. (NYSE:V)

Brick & Kyle Associates boosted its position in Visa Inc. (NYSE:V) by 5.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 19,030 shares of the credit-card processor’s stock after buying an additional 935 shares during the quarter. Visa comprises 2.1% of Brick & Kyle Associates’ investment portfolio, making the stock its 19th largest holding. Brick & Kyle Associates’ holdings in Visa were worth $4,995,000 at the end of the most recent quarter.

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

Visa Trading Up 1.3 %

Visa stock opened at $275.17 on Friday. The company has a market cap of $503.27 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.92 and a beta of 0.96. The firm has a 50-day moving average of $271.31 and a 200-day moving average of $273.35. 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 Inc. has a one year low of $227.78 and a one year high of $293.07.

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

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Piper Sandler decreased their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate 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.