Connors Investor Services Inc. Increases Stock Holdings in Visa Inc. (NYSE:V)

Connors Investor Services Inc. lifted its position in shares of Visa Inc. (NYSE:V) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,577 shares of the credit-card processor’s stock after buying an additional 244 shares during the period. Visa makes up approximately 1.5% of Connors Investor Services Inc.’s portfolio, making the stock its 28th largest position. Connors Investor Services Inc.’s holdings in Visa were worth $14,062,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of V. Livelsberger Financial Advisory purchased a new position in Visa in the fourth quarter valued at $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the first quarter worth approximately $25,000. POM Investment Strategies LLC raised its holdings in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in Visa during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC grew its stake in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

V stock opened at $290.52 on Tuesday. 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 market capitalization of $529.42 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.01 and a beta of 0.96. The firm has a 50 day moving average price of $268.78 and a 200-day moving average price of $273.21. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 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 company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the firm posted $2.16 earnings per share. Visa’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company 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. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the 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 completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada cut their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Bank of America restated a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley lowered their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Six equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $309.81.

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.