Tower Bridge Advisors Decreases Stake in Visa Inc. (NYSE:V)

Tower Bridge Advisors lessened its holdings in shares of Visa Inc. (NYSE:V) by 10.3% during the second quarter, Holdings Channel.com reports. The firm owned 69,213 shares of the credit-card processor’s stock after selling 7,910 shares during the quarter. Visa makes up 1.6% of Tower Bridge Advisors’ investment portfolio, making the stock its 9th biggest holding. Tower Bridge Advisors’ holdings in Visa were worth $18,166,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of V. Nadler Financial Group Inc. lifted its holdings in Visa by 2.4% in the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after buying an additional 44 shares during the period. Hilltop National Bank acquired a new position in shares of Visa during the first quarter valued at about $1,212,000. TCI Wealth Advisors Inc. raised its holdings in shares of Visa by 0.8% during the fourth quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after purchasing an additional 40 shares during the period. Absolute Capital Management LLC acquired a new position in shares of Visa during the first quarter valued at about $404,000. Finally, SageView Advisory Group LLC raised its holdings in shares of Visa by 40.4% during the fourth quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after purchasing an additional 7,236 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.2 %

Shares of V stock traded down $0.50 during mid-day trading on Friday, reaching $267.44. The stock had a trading volume of 3,697,448 shares, compared to its average volume of 7,178,655. The stock’s 50-day moving average price is $265.93 and its two-hundred day moving average price is $273.30. The firm has a market capitalization of $489.13 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. 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 52-week low of $227.78 and a 52-week high of $290.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 EPS. Equities analysts expect that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on V. Piper Sandler decreased their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group reduced their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada reduced their price objective 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. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, TD Cowen reduced their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.

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.