Pekin Hardy Strauss Inc. Sells 70 Shares of Visa Inc. (NYSE:V)

Pekin Hardy Strauss Inc. reduced its holdings in shares of Visa Inc. (NYSE:V) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,691 shares of the credit-card processor’s stock after selling 70 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Visa were worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of V. Livelsberger Financial Advisory purchased a new stake in Visa during the fourth quarter valued at $25,000. Westend Capital Management LLC purchased a new stake in Visa during the first quarter valued at $25,000. POM Investment Strategies LLC increased its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Visa in the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC increased its position 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 buying an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V opened at $290.52 on Tuesday. 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 business’s fifty day simple moving average is $268.78 and its 200-day simple moving average is $273.21. The company has a market capitalization of $529.42 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.01 and a beta of 0.96. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96.

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

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on V shares. TD Cowen reduced their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. JPMorgan Chase & Co. upped their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Citigroup dropped their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $309.81.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 sale, 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 can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

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.