Clearstead Trust LLC Buys 859 Shares of Visa Inc. (NYSE:V)

Clearstead Trust LLC raised its stake in shares of Visa Inc. (NYSE:V) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,138 shares of the credit-card processor’s stock after buying an additional 859 shares during the period. Visa comprises approximately 1.6% of Clearstead Trust LLC’s holdings, making the stock its 11th largest position. Clearstead Trust LLC’s holdings in Visa were worth $6,336,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Wealth Partners Inc. increased its position in shares of Visa by 14.0% during the 2nd quarter. Tower Wealth Partners Inc. now owns 2,851 shares of the credit-card processor’s stock valued at $748,000 after purchasing an additional 351 shares during the last quarter. Virtu Financial LLC increased its holdings in Visa by 734.9% during the second quarter. Virtu Financial LLC now owns 22,326 shares of the credit-card processor’s stock valued at $5,860,000 after buying an additional 19,652 shares during the last quarter. Sargent Investment Group LLC raised its position in Visa by 61.6% in the second quarter. Sargent Investment Group LLC now owns 3,121 shares of the credit-card processor’s stock worth $819,000 after acquiring an additional 1,190 shares during the period. Edgestream Partners L.P. boosted its stake in shares of Visa by 27.0% during the 2nd quarter. Edgestream Partners L.P. now owns 9,860 shares of the credit-card processor’s stock worth $2,588,000 after acquiring an additional 2,096 shares during the last quarter. Finally, GDS Wealth Management increased its stake in shares of Visa by 13.6% in the 2nd quarter. GDS Wealth Management now owns 38,673 shares of the credit-card processor’s stock worth $10,151,000 after purchasing an additional 4,632 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Visa stock opened at $290.52 on Tuesday. The firm has a market capitalization of $529.42 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The firm has a 50-day moving average price of $268.78 and a 200-day moving average price of $273.21. 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 (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the business earned $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is 23.24%.

Analyst Ratings Changes

Several research firms recently weighed in on V. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Royal Bank of Canada reduced their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Citigroup lowered their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Compass Point began coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.81.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

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.