Ballew Advisors Inc Buys Shares of 812 Visa Inc. (NYSE:V)

Ballew Advisors Inc purchased a new stake in Visa Inc. (NYSE:V) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 812 shares of the credit-card processor’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CHICAGO TRUST Co NA raised its holdings in Visa by 0.8% during the 3rd quarter. CHICAGO TRUST Co NA now owns 20,496 shares of the credit-card processor’s stock worth $5,635,000 after buying an additional 170 shares during the period. Carnegie Investment Counsel increased its position in shares of Visa by 7.4% during the third quarter. Carnegie Investment Counsel now owns 103,481 shares of the credit-card processor’s stock worth $28,452,000 after acquiring an additional 7,106 shares in the last quarter. Annex Advisory Services LLC raised its holdings in shares of Visa by 15.3% during the third quarter. Annex Advisory Services LLC now owns 151,319 shares of the credit-card processor’s stock worth $41,605,000 after acquiring an additional 20,109 shares during the period. Mechanics Bank Trust Department lifted its position in Visa by 1.2% in the 3rd quarter. Mechanics Bank Trust Department now owns 32,846 shares of the credit-card processor’s stock valued at $9,031,000 after acquiring an additional 386 shares in the last quarter. Finally, Montis Financial LLC acquired a new position in Visa in the 3rd quarter worth $374,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.1 %

V stock opened at $277.84 on Friday. The stock has a market cap of $508.15 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.92 and a beta of 0.96. 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 stock’s fifty day simple moving average is $274.16 and its two-hundred day simple moving average is $272.66. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07.

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

Visa Dividend Announcement

The company also recently declared 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 of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. 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. Piper Sandler decreased their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Morgan Stanley reiterated an “overweight” rating and issued a $322.00 price target on shares of Visa in a research note on Wednesday, September 25th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Finally, Evercore ISI lowered their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $312.04.

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.