Hobbs Group Advisors LLC Purchases New Position in Visa Inc. (NYSE:V)

Hobbs Group Advisors LLC acquired a new stake in Visa Inc. (NYSE:V) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 708 shares of the credit-card processor’s stock, valued at approximately $186,000.

A number of other hedge funds have also recently added to or reduced their stakes in V. Long Run Wealth Advisors LLC raised its position in Visa by 2.5% during the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after purchasing an additional 37 shares during the last quarter. Alaethes Wealth LLC boosted its holdings in Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after acquiring an additional 37 shares during the last quarter. Jessup Wealth Management Inc raised its holdings in Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 37 shares during the last quarter. Cordatus Wealth Management LLC lifted its position in shares of Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after purchasing an additional 37 shares during the period. Finally, Aurora Private Wealth Inc. boosted its stake in shares of Visa by 3.8% in the 1st quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock valued at $289,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.6 %

V traded up $1.57 on Tuesday, hitting $268.04. 6,734,113 shares of the company were exchanged, compared to its average volume of 7,220,576. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a fifty day simple moving average of $266.24 and a two-hundred day simple moving average of $273.50. The stock has a market capitalization of $488.45 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the company posted $2.16 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Wedbush upped their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Morgan Stanley decreased their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler decreased their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $308.50.

About Visa

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.