Mystic Asset Management Inc. Acquires 44 Shares of Visa Inc. (NYSE:V)

Mystic Asset Management Inc. increased its holdings in shares of Visa Inc. (NYSE:V) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,123 shares of the credit-card processor’s stock after purchasing an additional 44 shares during the period. Visa makes up 1.3% of Mystic Asset Management Inc.’s portfolio, making the stock its 18th biggest position. Mystic Asset Management Inc.’s holdings in Visa were worth $3,182,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of V. Livelsberger Financial Advisory acquired a new stake in Visa in the 4th quarter valued at approximately $25,000. Westend Capital Management LLC bought a new stake in shares of Visa during the 1st quarter worth approximately $25,000. POM Investment Strategies LLC raised its stake in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Visa in the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC increased its holdings in 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 buying an additional 89 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

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 completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Visa Trading Up 0.7 %

Shares of Visa stock opened at $287.35 on Friday. The stock has a market capitalization of $523.64 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The stock has a 50 day moving average price of $268.29 and a two-hundred day moving average price of $273.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96.

Visa (NYSE:V) last posted 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. 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 analyst estimates of $8.92 billion. During the same quarter last year, the company earned $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Compass Point assumed coverage on shares of Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. Evercore ISI reduced their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Jefferies Financial Group cut 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. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. 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 research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.