Commonwealth Retirement Investments LLC Acquires 701 Shares of Visa Inc. (NYSE:V)

Commonwealth Retirement Investments LLC grew its holdings in Visa Inc. (NYSE:V) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,976 shares of the credit-card processor’s stock after acquiring an additional 701 shares during the period. Visa accounts for 1.1% of Commonwealth Retirement Investments LLC’s portfolio, making the stock its 26th largest holding. Commonwealth Retirement Investments LLC’s holdings in Visa were worth $2,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Westend Capital Management LLC bought a new stake in Visa during the 1st quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Visa in the fourth quarter worth $25,000. POM Investment Strategies LLC raised its position in shares of 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 during the period. Frank Rimerman Advisors LLC purchased a new position in shares of Visa during the 4th quarter valued at $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% in the 2nd 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 during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.3 %

Shares of V opened at $279.48 on Friday. The company’s fifty day simple moving average is $266.53 and its 200-day simple moving average is $273.14. The company has a market cap of $509.30 billion, a P/E ratio of 31.23, a P/E/G ratio of 1.98 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96.

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

Visa Dividend Announcement

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

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on V. JPMorgan Chase & Co. upped their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Evercore ISI reduced their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Royal Bank of Canada dropped their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, Piper Sandler reduced their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.54.

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.