Birch Hill Investment Advisors LLC Acquires 2,380 Shares of Visa Inc. (NYSE:V)

Birch Hill Investment Advisors LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 97.1% during the 2nd quarter, Holdings Channel reports. The firm owned 4,832 shares of the credit-card processor’s stock after purchasing an additional 2,380 shares during the period. Birch Hill Investment Advisors LLC’s holdings in Visa were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. increased its stake in Visa by 1,215.7% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 168,786 shares of the credit-card processor’s stock valued at $43,943,000 after acquiring an additional 155,957 shares during the last quarter. Brio Consultants LLC grew its stake in shares of Visa by 39.1% during the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after buying an additional 437 shares during the last quarter. Gilbert & Cook Inc. grew its stake in shares of Visa by 2.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after buying an additional 158 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Visa by 0.8% during the fourth quarter. First Horizon Advisors Inc. now owns 19,526 shares of the credit-card processor’s stock worth $5,084,000 after buying an additional 164 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of Visa by 8.2% during the fourth quarter. Benjamin Edwards Inc. now owns 3,374 shares of the credit-card processor’s stock worth $879,000 after buying an additional 256 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 0.7 %

V traded up $2.05 during midday trading on Friday, hitting $276.37. The company had a trading volume of 6,296,089 shares, compared to its average volume of 7,134,793. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. 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 company has a market capitalization of $505.46 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.89 and a beta of 0.95. The stock’s 50 day moving average price is $265.70 and its 200 day moving average price is $273.13.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is presently 23.24%.

Analyst Ratings Changes

V has been the topic of a number of research reports. Piper Sandler decreased their target price 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. Macquarie reaffirmed an “outperform” rating and set a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Bank of America reiterated a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.

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.