Visa Inc. $V Holdings Lifted by Corundum Group Inc.

Corundum Group Inc. grew its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 24.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,394 shares of the credit-card processor's stock after purchasing an additional 1,047 shares during the period. Visa makes up 0.8% of Corundum Group Inc.'s portfolio, making the stock its 25th biggest holding. Corundum Group Inc.'s holdings in Visa were worth $1,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Keystone Global Partners LLC purchased a new stake in shares of Visa during the first quarter valued at $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the 2nd quarter worth about $28,000. von Borstel & Associates Inc. purchased a new stake in Visa during the first quarter valued at about $27,000. Cranbrook Wealth Management LLC boosted its holdings in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after buying an additional 41 shares during the period. Finally, Westend Capital Management LLC boosted its holdings in shares of Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock worth $38,000 after buying an additional 49 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

Shares of NYSE V opened at $349.21 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a one year low of $273.24 and a one year high of $375.51. The business's 50-day moving average price is $343.65 and its two-hundred day moving average price is $346.89. The company has a market capitalization of $640.03 billion, a P/E ratio of 34.10, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Analyst Ratings Changes

Several equities analysts have weighed in on V shares. UBS Group reissued a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Barclays restated an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $389.00.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction dated 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. Corporate insiders own 0.13% of the company's stock.

About Visa

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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