Princeton Global Asset Management LLC Has $12.34 Million Holdings in Visa Inc. $V

Key Points

• Princeton Global Asset Management LLC increased its stake in Visa Inc. by 19.1%, now holding 34,759 shares worth approximately $12.34 million, making Visa its 7th largest investment position.
• Visa reported $2.98 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, with revenue of $10.17 billion, up 14.3% year-over-year.
• The company recently announced a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.7% and a dividend payout ratio of 23.05%.

Princeton Global Asset Management LLC grew its stake in Visa Inc. (NYSE:V - Free Report) by 19.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,759 shares of the credit-card processor's stock after purchasing an additional 5,570 shares during the period. Visa comprises approximately 2.2% of Princeton Global Asset Management LLC's investment portfolio, making the stock its 7th largest position. Princeton Global Asset Management LLC's holdings in Visa were worth $12,341,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Keystone Global Partners LLC acquired a new stake in shares of Visa in the 1st quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the 1st quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the 2nd quarter valued at approximately $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at approximately $29,000. Finally, Cranbrook Wealth Management LLC boosted its stake in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of V opened at $345.10 on Thursday. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The business's fifty day moving average is $344.72 and its 200 day moving average is $347.09. 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 stock has a market cap of $632.50 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.05 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the business earned $2.42 EPS. Visa's quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is currently 23.05%.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

V has been the subject of a number of recent analyst reports. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Citigroup initiated coverage on shares of Visa in a research report on Wednesday. They set a "buy" rating and a $450.00 target price for the company. Robert W. Baird set a $410.00 target price on shares of Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. Finally, UBS Group reaffirmed a "buy" rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and an average price target of $392.75.

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.

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