Visa Inc. (NYSE:V) Stock Position Increased by Black Diamond Financial LLC

Black Diamond Financial LLC grew its position in Visa Inc. (NYSE:V) by 59.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,751 shares of the credit-card processor’s stock after purchasing an additional 652 shares during the period. Black Diamond Financial LLC’s holdings in Visa were worth $460,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in V. Livelsberger Financial Advisory bought a new position in shares of Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the first quarter valued at $25,000. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Visa during the 4th quarter worth $33,000. Finally, TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Jefferies Financial Group decreased their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 target price on shares of Visa in a report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler lowered their price objective 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. Finally, TD Cowen reduced their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $309.81.

Visa Stock Up 0.7 %

V opened at $287.35 on Monday. The firm has a market cap of $523.64 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 2.01 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 business has a 50 day moving average price of $268.29 and a 200 day moving average price of $273.16. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.16 earnings per share. Research analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

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.