Next Capital Management LLC Buys 86 Shares of Visa Inc. (NYSE:V)

Next Capital Management LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,752 shares of the credit-card processor’s stock after buying an additional 86 shares during the period. Next Capital Management LLC’s holdings in Visa were worth $460,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in V. Fiera Capital Corp increased its stake in Visa by 1.3% during the 2nd quarter. Fiera Capital Corp now owns 685,355 shares of the credit-card processor’s stock valued at $179,885,000 after purchasing an additional 8,914 shares in the last quarter. HWG Holdings LP purchased a new stake in shares of Visa during the second quarter valued at approximately $71,000. EP Wealth Advisors LLC grew its holdings in shares of Visa by 8.2% during the second quarter. EP Wealth Advisors LLC now owns 228,870 shares of the credit-card processor’s stock valued at $60,072,000 after buying an additional 17,395 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Visa during the second quarter valued at approximately $29,056,000. Finally, Newport Capital Group LLC bought a new position in Visa in the 2nd quarter valued at approximately $551,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $275.17 on Monday. The stock has a 50-day moving average price of $271.31 and a 200 day moving average price of $273.19. The stock has a market capitalization of $503.27 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.92 and a beta of 0.96. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. 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 quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the firm posted $2.16 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Upgrades and Downgrades

A number of research firms have commented on V. Piper Sandler reduced their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Compass Point initiated coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. Royal Bank of Canada decreased their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. TD Cowen dropped their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Bank of America boosted their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Insider Buying and Selling at Visa

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

Visa Company 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.