Maloon Powers Pitre Higgins & Dennehy LLC Takes Position in Visa Inc. $V

Maloon Powers Pitre Higgins & Dennehy LLC purchased a new stake in shares of Visa Inc. (NYSE:V) during the 2nd quarter, Holdings Channel reports. The fund purchased 6,657 shares of the credit-card processor’s stock, valued at approximately $2,284,000. Visa makes up 0.8% of Maloon Powers Pitre Higgins & Dennehy LLC’s holdings, making the stock its 29th biggest position.

A number of other institutional investors also recently bought and sold shares of the stock. G&S Capital LLC raised its stake in shares of Visa by 4.0% in the second quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock valued at $261,000 after acquiring an additional 29 shares during the period. Keating Financial Advisory Services Inc. boosted its stake in shares of Visa by 0.9% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 3,189 shares of the credit-card processor’s stock worth $1,094,000 after purchasing an additional 29 shares during the period. NerdWallet Wealth Partners LLC grew its holdings in Visa by 4.5% during the 2nd quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock valued at $239,000 after purchasing an additional 30 shares during the last quarter. Frederick Financial Consultants LLC grew its holdings in Visa by 2.0% during the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after purchasing an additional 31 shares during the last quarter. Finally, Kuhn & Co Investment Counsel raised its position in Visa by 0.5% in the 4th quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock worth $2,138,000 after purchasing an additional 32 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Visa

In other news, insider Tullier Mahon sold 57,272 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the transaction, the insider owned 49,662 shares of the company’s stock, valued at approximately $18,125,140.14. This represents a 53.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of Visa stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $381.35, for a total value of $773,377.80. Following the completion of the sale, the general counsel owned 18,404 shares of the company’s stock, valued at $7,018,365.40. The trade was a 9.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 104,537 shares of company stock valued at $37,540,837 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on V shares. Robert W. Baird raised their price objective on shares of Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Clear Str raised Visa to a “strong-buy” rating in a research note on Thursday, July 16th. Citigroup reiterated a “buy” rating and issued a $440.00 price target (up from $400.00) on shares of Visa in a report on Wednesday, July 29th. Piper Sandler reissued an “overweight” rating and set a $430.00 price target (up from $394.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Cantor Fitzgerald set a $445.00 price objective on Visa and gave the company an “overweight” rating in a report on Monday, August 3rd. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company’s stock. According to MarketBeat, Visa currently has a consensus rating of “Buy” and an average price target of $416.62.

Visa Price Performance

Visa stock opened at $374.46 on Friday. The stock has a market cap of $668.20 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 2.03 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $385.57. The firm has a 50-day moving average of $363.63 and a two-hundred day moving average of $333.27.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period last year, the company posted $2.98 earnings per share. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 13.16 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is presently 22.79%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.