Menard Financial Group LLC Boosts Stock Position in Visa Inc. (NYSE:V)

Menard Financial Group LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,182 shares of the credit-card processor’s stock after purchasing an additional 60 shares during the quarter. Visa makes up 1.2% of Menard Financial Group LLC’s investment portfolio, making the stock its 17th largest holding. Menard Financial Group LLC’s holdings in Visa were worth $1,623,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brio Consultants LLC boosted its stake in Visa by 39.1% in the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock valued at $405,000 after acquiring an additional 437 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in Visa by 2.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock valued at $1,466,000 after purchasing an additional 158 shares during the last quarter. Aveo Capital Partners LLC grew its holdings in Visa by 9.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock valued at $730,000 after purchasing an additional 235 shares during the period. 9258 Wealth Management LLC increased its position in Visa by 20.8% in the fourth quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock worth $2,094,000 after buying an additional 1,387 shares during the last quarter. Finally, Gryphon Financial Partners LLC raised its stake in shares of Visa by 53.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after buying an additional 4,774 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

NYSE V opened at $287.35 on Monday. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. The company has a fifty day moving average of $268.29 and a 200-day moving average of $273.16. The company has a market capitalization of $523.64 billion, a P/E ratio of 32.11, a P/E/G ratio of 2.01 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. Royal Bank of Canada decreased their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Bank of America reiterated a “neutral” rating and issued a $297.00 target price (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Citigroup reduced their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Piper Sandler dropped their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $309.81.

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.