Luts & Greenleigh Group Inc. Acquires 384 Shares of Visa Inc. (NYSE:V)

Luts & Greenleigh Group Inc. lifted its holdings in shares of Visa Inc. (NYSE:V) by 30.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,658 shares of the credit-card processor’s stock after acquiring an additional 384 shares during the quarter. Luts & Greenleigh Group Inc.’s holdings in Visa were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Livelsberger Financial Advisory bought a new position in Visa in the fourth quarter worth $25,000. Westend Capital Management LLC bought a new position in Visa in the first quarter worth $25,000. POM Investment Strategies LLC raised 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 worth $28,000 after purchasing an additional 97 shares in the last quarter. TruNorth Capital Management LLC raised its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC bought a new position in Visa in the second quarter worth $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

NYSE:V traded down $1.39 during trading hours on Tuesday, reaching $279.29. The stock had a trading volume of 5,806,344 shares, compared to its average volume of 7,106,448. The stock has a market capitalization of $510.80 billion, a PE ratio of 31.49, a PEG ratio of 1.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a 50 day moving average price of $274.65 and a two-hundred day moving average price of $272.63. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates 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 company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 EPS. As a group, sell-side analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm 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. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Analyst Ratings Changes

A number of research firms have recently commented on V. Bank of America increased their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Royal Bank of Canada cut their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Evercore ISI cut their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $313.81.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is 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.