Deane Retirement Strategies Inc. Purchases 57 Shares of Visa Inc. (NYSE:V)

Deane Retirement Strategies Inc. increased its position in shares of Visa Inc. (NYSE:V) by 0.7% during the third quarter, HoldingsChannel.com reports. The fund owned 8,559 shares of the credit-card processor’s stock after acquiring an additional 57 shares during the period. Deane Retirement Strategies Inc.’s holdings in Visa were worth $2,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Livelsberger Financial Advisory purchased a new position in Visa in the 4th quarter worth approximately $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the 1st quarter valued at $25,000. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% in the 2nd 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 in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at $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 in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on V. Royal Bank of Canada cut their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Compass Point began coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. BMO Capital Markets upped their price objective on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday. Jefferies Financial Group lowered their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, BNP Paribas upgraded shares of 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-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by company insiders.

Visa Stock Performance

Shares of NYSE V opened at $276.86 on Friday. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The firm has a market capitalization of $506.36 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $272.63 and a 200 day moving average of $273.12.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid 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 dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.