Procyon Advisors LLC Has $18.08 Million Stake in Visa Inc. (NYSE:V)

Procyon Advisors LLC lifted its position in shares of Visa Inc. (NYSE:V) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,738 shares of the credit-card processor’s stock after buying an additional 1,919 shares during the quarter. Visa comprises about 1.2% of Procyon Advisors LLC’s holdings, making the stock its 15th largest position. Procyon Advisors LLC’s holdings in Visa were worth $18,075,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Accelerate Investment Advisors LLC acquired a new position in Visa in the third quarter valued at approximately $224,000. Paladin Wealth LLC bought a new stake in shares of Visa in the 3rd quarter valued at $757,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Visa by 26.9% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,190 shares of the credit-card processor’s stock valued at $603,000 after acquiring an additional 464 shares during the period. Woodstock Corp boosted its stake in Visa by 1.1% during the third quarter. Woodstock Corp now owns 36,626 shares of the credit-card processor’s stock worth $10,070,000 after acquiring an additional 406 shares in the last quarter. Finally, Capricorn Fund Managers Ltd grew its holdings in Visa by 75.7% in the third quarter. Capricorn Fund Managers Ltd now owns 19,554 shares of the credit-card processor’s stock worth $5,376,000 after purchasing an additional 8,422 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE V opened at $278.03 on Monday. 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 company has a market capitalization of $508.50 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07. The company has a 50-day simple moving average of $274.16 and a 200 day simple moving average of $272.62.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. Visa’s revenue was up 9.6% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on V shares. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Macquarie restated an “outperform” rating and set a $300.00 price objective on shares of Visa in a report on Friday, September 27th. Royal Bank of Canada lowered 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. Finally, Evercore ISI reduced their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.81.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

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.