Fortem Financial Group LLC Trims Holdings in Visa Inc. (NYSE:V)

Fortem Financial Group LLC trimmed its holdings in Visa Inc. (NYSE:V) by 13.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,449 shares of the credit-card processor’s stock after selling 220 shares during the quarter. Fortem Financial Group LLC’s holdings in Visa were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Westend Capital Management LLC purchased a new stake in shares of Visa in the first quarter worth $25,000. Livelsberger Financial Advisory purchased a new stake in Visa during the 4th quarter valued at about $25,000. POM Investment Strategies LLC increased its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on V shares. Jefferies Financial Group reduced their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday. Piper Sandler reduced their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Macquarie reissued an “outperform” rating and issued a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $309.54.

Visa Price Performance

Shares of NYSE:V opened at $278.68 on Wednesday. The firm has a market cap of $509.69 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 1.95 and a beta of 0.95. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a fifty day moving average price of $265.80 and a 200 day moving average price of $273.05.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

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 $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s payout ratio is currently 23.24%.

Visa 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.