Asio Capital LLC Has $9 Million Position in Visa Inc. $V

Asio Capital LLC increased its stake in Visa Inc. (NYSE:V) by 3.6% in the 2nd quarter, Holdings Channel reports. The firm owned 25,348 shares of the credit-card processor’s stock after purchasing an additional 888 shares during the period. Visa accounts for approximately 1.5% of Asio Capital LLC’s holdings, making the stock its 20th biggest position. Asio Capital LLC’s holdings in Visa were worth $9,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Keystone Global Partners LLC acquired a new position in shares of Visa during the first quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa during the first quarter worth approximately $27,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa during the second quarter worth approximately $28,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Visa by 82.0% during 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 last quarter. Finally, 1 North Wealth Services LLC acquired a new position in shares of Visa during the first quarter worth approximately $38,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE:V opened at $348.21 on Thursday. The business’s fifty day moving average price is $344.09 and its two-hundred day moving average price is $346.52. Visa Inc. has a fifty-two week low of $273.24 and a fifty-two week high of $375.51. The stock has a market capitalization of $638.20 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 2.27 and a beta of 0.90. 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 (NYSE:V) last announced its quarterly earnings results 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 firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same period in the prior year, the business posted $2.42 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on V shares. Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Morgan Stanley upped their target price on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Macquarie upped their target price on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $385.96.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

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.