Pandora Wealth Inc. Makes New $1.86 Million Investment in Visa Inc. (NYSE:V)

Key Points

• Pandora Wealth Inc. has made a new investment of $1.86 million in Visa Inc., acquiring 5,314 shares, which constitutes 1.2% of its total holdings.
• Visa recently reported $2.98 EPS for the last quarter, surpassing analyst expectations of $2.85, and achieved a 14.3% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.59 per share, with a yield of 0.7%, set for payment on September 2nd.

Pandora Wealth Inc. bought a new position in Visa Inc. (NYSE:V - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 5,314 shares of the credit-card processor's stock, valued at approximately $1,862,000. Visa accounts for 1.2% of Pandora Wealth Inc.'s holdings, making the stock its 19th biggest holding.

Several other hedge funds have also made changes to their positions in the company. Lakeridge Wealth Management LLC increased its position in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after buying an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC acquired a new position in Visa during the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC increased its position in Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after buying an additional 30,185 shares in the last quarter. Eagle Strategies LLC increased its position in Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after buying an additional 63 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock valued at $192,948,000 after buying an additional 43,546 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

NYSE:V opened at $336.86 on Friday. Visa Inc. has a 52 week low of $258.74 and a 52 week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $621.56 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.21 and a beta of 0.94. The stock's fifty day moving average is $352.79 and its two-hundred day moving average is $346.96.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the previous year, the firm posted $2.42 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. Equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research reports. UBS Group reissued a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $380.84.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,100 shares of company stock valued at $27,643,224 over the last three months. 0.13% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.