Meridian Financial Partners LLC Increases Stake in Visa Inc. (NYSE:V)

Meridian Financial Partners LLC raised its holdings in Visa Inc. (NYSE:V) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,347 shares of the credit-card processor’s stock after buying an additional 187 shares during the period. Visa makes up approximately 1.2% of Meridian Financial Partners LLC’s portfolio, making the stock its 17th largest position. Meridian Financial Partners LLC’s holdings in Visa were worth $2,295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in shares of Visa during the first quarter worth approximately $1,212,000. Absolute Capital Management LLC purchased a new position in Visa in the first quarter worth approximately $404,000. Davidson Capital Management Inc. grew its holdings in Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after acquiring an additional 44 shares in the last quarter. Empirical Finance LLC increased its position in shares of Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares during the last quarter. Finally, Arjuna Capital raised its holdings in shares of Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $290.62 on Friday. The company has a 50-day simple moving average of $276.91 and a 200-day simple moving average of $272.91. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $531.53 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities 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. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. Visa’s payout ratio is currently 23.24%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms recently commented on V. Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI dropped their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. TD Cowen decreased their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. BNP Paribas raised 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. Finally, Bank of America raised their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.19.

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.