IFG Advisory LLC Buys New Shares in Visa Inc. (NYSE:V)

IFG Advisory LLC bought a new position in Visa Inc. (NYSE:V) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 5,018 shares of the credit-card processor’s stock, valued at approximately $1,317,000.

A number of other institutional investors have also bought and sold shares of the business. GUNN & Co INVESTMENT MANAGEMENT INC. increased its holdings in Visa by 1,215.7% in the 4th 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 increased its holdings in shares of Visa by 39.1% in the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after purchasing an additional 437 shares during the last quarter. Gilbert & Cook Inc. lifted its position in shares of Visa by 2.9% in 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 in the last quarter. First Horizon Advisors Inc. boosted its stake in Visa by 0.8% during the fourth quarter. First Horizon Advisors Inc. now owns 19,526 shares of the credit-card processor’s stock valued at $5,084,000 after buying an additional 164 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in Visa by 8.2% during the 4th quarter. Benjamin Edwards Inc. now owns 3,374 shares of the credit-card processor’s stock valued at $879,000 after buying an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of research reports. Evercore ISI lowered their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Royal Bank of Canada dropped 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. 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 report on Wednesday, July 24th. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley reduced their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $308.50.

Visa Trading Up 0.7 %

Visa stock traded up $2.05 during trading hours 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. 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 firm has a market cap of $505.46 billion, a P/E ratio of 30.88, a P/E/G ratio of 1.89 and a beta of 0.95. The company has a 50-day moving average price of $265.70 and a two-hundred day moving average price of $273.13. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96.

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 quarter in the previous year, the firm posted $2.16 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.52 dividend. 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 dividend payout ratio is 23.24%.

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.