Ashton Thomas Private Wealth LLC Acquires 3,268 Shares of Visa Inc. (NYSE:V)

Ashton Thomas Private Wealth LLC lifted its position in Visa Inc. (NYSE:V) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,200 shares of the credit-card processor’s stock after buying an additional 3,268 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Visa were worth $9,239,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after acquiring an additional 788,908 shares during the last quarter. Capital International Investors lifted its position in Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors lifted its position in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Norges Bank bought a new position in Visa during the fourth quarter valued at $3,895,015,000. Finally, Fisher Asset Management LLC lifted its position in Visa by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock valued at $2,317,162,000 after purchasing an additional 166,767 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.3 %

NYSE:V opened at $279.37 on Monday. The company’s 50-day simple moving average is $266.53 and its 200-day simple moving average is $273.11. The stock has a market capitalization of $509.10 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.97 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. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The company 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 last year, the business earned $2.16 EPS. On average, equities analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on V shares. 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. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Citigroup reduced their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, BNP Paribas raised shares of 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. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.