Hanlon Investment Management Inc. Buys New Shares in Visa Inc. (NYSE:V)

Hanlon Investment Management Inc. purchased a new position in Visa Inc. (NYSE:V) during the 2nd quarter, Holdings Channel reports. The firm purchased 824 shares of the credit-card processor’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Westend Capital Management LLC bought a new stake in Visa in the 1st quarter valued at $25,000. Livelsberger Financial Advisory bought a new position in shares of Visa during the 4th quarter worth about $25,000. POM Investment Strategies LLC boosted its position in shares of Visa by 970.0% during the 2nd 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 in the last quarter. Frank Rimerman Advisors LLC bought a new stake in Visa in the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC raised 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 purchasing an additional 89 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

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 value of $2,382,309.40. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Visa Trading Up 0.3 %

NYSE V traded up $0.75 during trading hours on Friday, hitting $279.37. The company’s stock had a trading volume of 7,187,805 shares, compared to its average volume of 7,125,969. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The firm has a market capitalization of $509.10 billion, a P/E ratio of 31.23, a PEG ratio of 1.98 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average of $266.53 and a 200 day moving average of $273.14.

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 analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the business posted $2.16 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts forecast 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. Stockholders 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 dividend yield of 0.74%. Visa’s payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. TD Cowen cut their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI reduced their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Compass Point started coverage on shares of Visa in a research report on Wednesday. They set a “buy” rating and a $319.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.54.

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.