GAMMA Investing LLC Raises Holdings in Visa Inc. (NYSE:V)

GAMMA Investing LLC grew its position in shares of Visa Inc. (NYSE:V) by 31.1% during the second quarter, Holdings Channel reports. The institutional investor owned 28,422 shares of the credit-card processor’s stock after purchasing an additional 6,747 shares during the quarter. Visa accounts for 1.0% of GAMMA Investing LLC’s holdings, making the stock its 13th largest holding. GAMMA Investing LLC’s holdings in Visa were worth $7,460,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in V. Westend Capital Management LLC purchased a new stake in Visa during the 1st quarter worth about $25,000. Livelsberger Financial Advisory purchased a new stake in Visa during the 4th quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in Visa during the 4th quarter worth about $32,000. Frank Rimerman Advisors LLC bought a new position in Visa in the 4th quarter worth about $33,000. Finally, Abich Financial Wealth Management LLC increased its stake in Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by company insiders.

Visa Trading Up 0.2 %

NYSE V traded up $0.65 on Friday, hitting $266.58. The company’s stock had a trading volume of 7,017,857 shares, compared to its average volume of 7,476,283. The firm has a market cap of $487.56 billion, a P/E ratio of 29.79, a PEG ratio of 1.88 and a beta of 0.95. 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 company’s 50-day simple moving average is $268.91 and its 200 day simple moving average is $274.36. Visa Inc. has a 52-week low of $227.78 and a 52-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, meeting 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 return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 EPS. Research analysts predict that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is presently 23.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on V. Bank of America restated a “neutral” rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Oppenheimer upped their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler decreased their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI reduced their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Visa from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $307.25.

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.