Visa Inc. (NYSE:V) Shares Bought by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC raised its stake in Visa Inc. (NYSE:V) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,593 shares of the credit-card processor’s stock after purchasing an additional 119 shares during the period. Meridian Wealth Partners LLC’s holdings in Visa were worth $418,000 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 the stock. National Bank of Canada FI grew its stake in Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares during the last quarter. Swedbank AB purchased a new position in Visa during the 1st quarter worth approximately $511,321,000. GQG Partners LLC grew its stake in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. Wulff Hansen & CO. grew its stake in Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after buying an additional 1,582,074 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after buying an additional 1,489,856 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $291.61 on Wednesday. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. The firm has a market capitalization of $533.34 billion, a price-to-earnings ratio of 32.58, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The business has a 50 day simple moving average of $269.30 and a 200 day simple moving average of $273.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Buying and Selling

In other 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 completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley lowered their target price on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Bank of America lifted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research note on Tuesday, September 3rd. Finally, TD Cowen reduced 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. Six investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

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.