MCF Advisors LLC Acquires 299 Shares of Visa Inc. (NYSE:V)

MCF Advisors LLC raised its holdings in shares of Visa Inc. (NYSE:V) by 27.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,399 shares of the credit-card processor’s stock after purchasing an additional 299 shares during the quarter. MCF Advisors LLC’s holdings in Visa were worth $327,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in V. Price T Rowe Associates Inc. MD raised its holdings in shares of Visa by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 84,009,523 shares of the credit-card processor’s stock valued at $17,787,336,000 after acquiring an additional 6,034,535 shares in the last quarter. Magellan Asset Management Ltd raised its holdings in shares of Visa by 32.1% in the first quarter. Magellan Asset Management Ltd now owns 12,625,802 shares of the credit-card processor’s stock valued at $2,673,261,000 after acquiring an additional 3,065,044 shares in the last quarter. Edgewood Management LLC raised its holdings in shares of Visa by 17.1% in the first quarter. Edgewood Management LLC now owns 15,902,335 shares of the credit-card processor’s stock valued at $3,367,001,000 after acquiring an additional 2,326,178 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Visa by 19.8% in the first quarter. Franklin Resources Inc. now owns 12,573,336 shares of the credit-card processor’s stock valued at $2,662,156,000 after acquiring an additional 2,075,534 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Visa by 10.7% in the second quarter. Alliancebernstein L.P. now owns 20,743,603 shares of the credit-card processor’s stock valued at $4,850,269,000 after acquiring an additional 2,009,038 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

NYSE V opened at $223.03 on Wednesday. The business has a fifty day moving average price of $236.44 and a 200 day moving average price of $229.52. Visa Inc. has a one year low of $179.23 and a one year high of $252.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market cap of $434.45 billion, a P/E ratio of 45.06, a P/E/G ratio of 2.00 and a beta of 0.98.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.16. The company had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Visa had a return on equity of 35.45% and a net margin of 47.97%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. As a group, sell-side analysts predict that Visa Inc. will post 5.82 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, August 12th. Visa’s payout ratio is currently 25.40%.

A number of equities analysts have commented on V shares. Truist boosted their target price on shares of Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Raymond James boosted their target price on shares of Visa from $268.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Credit Suisse Group boosted their target price on shares of Visa from $280.00 to $285.00 and gave the stock an “outperform” rating in a report on Tuesday, June 8th. Wells Fargo & Company boosted their target price on shares of Visa from $265.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Visa from $249.00 to $267.00 and gave the stock an “overweight” rating in a report on Tuesday, August 17th. One analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Visa has an average rating of “Buy” and an average price target of $271.52.

In related news, insider Rajat Taneja sold 42,336 shares of the firm’s stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $240.00, for a total transaction of $10,160,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Ryan Mcinerney sold 11,193 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $229.10, for a total value of $2,564,316.30. Following the transaction, the president now owns 11,193 shares of the company’s stock, valued at $2,564,316.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,813 shares of company stock valued at $20,342,613. Company insiders own 0.19% of the company’s stock.

Visa Company Profile

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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