Beacon Financial Group Purchases 341 Shares of Visa Inc. $V

Beacon Financial Group raised its stake in Visa Inc. (NYSE:V) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,554 shares of the credit-card processor’s stock after acquiring an additional 341 shares during the quarter. Beacon Financial Group’s holdings in Visa were worth $4,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Reyes Financial Architecture Inc. increased its position in Visa by 13.6% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 1,837 shares of the credit-card processor’s stock valued at $652,000 after acquiring an additional 220 shares in the last quarter. Client First Investment Management LLC acquired a new stake in Visa in the 2nd quarter valued at about $360,000. Czech National Bank grew its position in shares of Visa by 5.7% during the 2nd quarter. Czech National Bank now owns 418,225 shares of the credit-card processor’s stock worth $148,491,000 after buying an additional 22,395 shares during the period. ACT Wealth Management LLC grew its position in shares of Visa by 16.7% during the 2nd quarter. ACT Wealth Management LLC now owns 2,743 shares of the credit-card processor’s stock worth $974,000 after buying an additional 393 shares during the period. Finally, Little House Capital LLC grew its position in shares of Visa by 1.3% during the 2nd quarter. Little House Capital LLC now owns 12,015 shares of the credit-card processor’s stock worth $4,266,000 after buying an additional 152 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $338.96 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51. The firm’s 50 day moving average price is $346.67 and its two-hundred day moving average price is $346.69. The firm has a market cap of $621.24 billion, a P/E ratio of 33.10, a PEG ratio of 2.26 and a beta of 0.92.

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 net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given 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 of this dividend was Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Morgan Stanley lifted their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Oppenheimer lifted their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Barclays reissued an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $385.96.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’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 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 position. The disclosure for this sale can be found here. 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.