Corundum Group Inc. Raises Stake in Visa Inc. (NYSE:V)

Corundum Group Inc. raised its stake in Visa Inc. (NYSE:V) by 49.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,834 shares of the credit-card processor’s stock after buying an additional 2,253 shares during the quarter. Corundum Group Inc.’s holdings in Visa were worth $1,794,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in V. Livelsberger Financial Advisory purchased a new position in shares of Visa during the 4th quarter worth $25,000. Westend Capital Management LLC purchased a new position in shares of Visa during the 1st quarter worth $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of Visa during the 4th quarter worth $33,000. Bbjs Financial Advisors LLC purchased a new position in shares of Visa during the 2nd quarter worth $35,000. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after purchasing an additional 46 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler decreased their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Macquarie reissued an “outperform” rating and set a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. Mizuho increased their target price on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley decreased their target price on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.25.

Visa Stock Up 2.2 %

Shares of NYSE V traded up $5.67 during midday trading on Thursday, hitting $266.81. 7,397,535 shares of the company’s stock were exchanged, compared to its average volume of 7,241,343. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The company has a market cap of $486.21 billion, a PE ratio of 29.81, a P/E/G ratio of 1.83 and a beta of 0.95. The firm’s fifty day simple moving average is $266.63 and its 200-day simple moving average is $273.64.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 EPS. Research analysts predict that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. Visa’s dividend payout ratio is presently 23.24%.

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.