As of the second quarter of this year, &Jmac Enterprises LLC has acquired a new stake in Visa Inc. (NYSE:V), according to their recently filed 13F report with the Securities and Exchange Commission (SEC). The firm has purchased 1,816 shares of Visa’s stock, valuing approximately $431,000.
Visa is a well-known credit-card processor listed under NYSE:V. On July 25th, the company released its latest earnings results. For the quarter, Visa reported earnings per share (EPS) of $2.16, surpassing the consensus estimate of $2.11 by $0.05. The company’s revenue for the quarter stood at $8.12 billion, exceeding analysts’ expectations of $8.06 billion.
Additionally, Visa showcased strong financial performance with a return on equity of 49.42% and a net margin of 51.94%. Compared to the same quarter last year, Visa experienced a growth of 11.7% in quarterly revenue. In the prior year’s corresponding period, the business reported an EPS of $1.98.
Analysts remain optimistic about Visa’s future prospects and anticipate that for the current fiscal year it will post earnings per share of 8.65.
It is worth noting that acquiring shares in established companies like Visa can be an attractive investment opportunity for market participants like &Jmac Enterprises LLC due to their consistent performance and market presence.
Overall, Visa continues to demonstrate its strength as a credit-card processor in both financial performance and investor interest as evidenced by recent acquisitions such as those made by &Jmac Enterprises LLC.
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Institutional Investors and Hedge Funds Display Confidence in Visa’s Long-Term Growth Potential
In recent months, several hedge funds and institutional investors have been making significant changes to their positions in the company Visa. One notable firm, Steigerwald Gordon & Koch Inc., increased its stake in Visa by 1.2% during the first quarter of this year. As a result, they now own 77,046 shares of the credit-card processor’s stock valued at $17,371,000. This increase was made possible after buying an additional 951 shares in the last quarter.
Atomi Financial Group Inc. also acquired a new stake in Visa during the first quarter, amounting to approximately $677,000. Another institution, Point72 Europe London LLP, significantly increased its position in Visa by 56.4% during the fourth quarter of last year. They now hold 24,871 shares of Visa’s stock worth $5,167,000 after purchasing an additional 8,971 shares during that period.
Additionally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Visa by 9.1% in the first quarter and now owns 371,379 shares valued at $83,731,000 after purchasing an additional 30,849 shares throughout that period. BerganKDV Wealth Management LLC also displayed an increase of 7.9% in their position within Visa during the first quarter. They currently possess 24,257 shares worth $5,469,000 after purchasing an additional 1,773 shares.
It is noteworthy that as much as 81.35% of Visa’s stock is currently owned by institutional investors and hedge funds.
On Tuesday’s opening session on the New York Stock Exchange (NYSE), October 2nd of this year revealed that VISA Inc.’s stock opened at $231.26 per share.The company boasts a market capitalization of a staggering $430.57 billion with a price-to-earnings ratio standing at approximately 29.35. Furthermore, Visa has a PEG ratio of 1.73 and a beta of 0.96, further indicating its market positioning within the financial sector.
Taking into consideration the stock’s performance over recent months, Visa’s 50-day moving average stands at $240.34 while its two-hundred day moving average rests at $233.56.On examining the company’s financial health, it is important to note that Visa Inc. holds a debt-to-equity ratio of 0.55 and maintains both the current and quick ratios at 1.49.
In terms of share prices, Visa Inc.’s historical performance shows a 52-week low of $174.60 along with an impressive 52-week high of $250.06.
Announced on Friday, September 1st, Visa also declared its quarterly dividend to shareholders.The dividend was paid out to those who were recorded as shareholders of record on Friday, August 11th and amounted to $0.45 per share.Thus, this accounted for an annualized dividend of $1.80 and yielded approximately 0.78%. The ex-dividend date for this particular dividend fell on Thursday, August 10th.While considering all these figures, it should be noted that Visa’s payout ratio currently stands at approximately 22.84%.
Various brokerage firms have recently expressed their opinions regarding VISA Inc.’s stock.One such firm is Wedbush who reiterated an “outperform” rating alongside issuing a price objective of $270.00 for shares of Visa in their research report dated Thursday, August 31st.Of note was Credit Suisse Group who raised their price objective from $265.00 to $275.OO in their research report published on Wednesday, July as well as Raymond James who increased their target price from$282.OO to $284.OO thus enabling them to give Visa’s stock an “outperform” rating.
Another renowned financial institution, Wells Fargo & Company, upgraded their target price from $265.00 to $270.00 and simultaneously recommended a stock rating of “overweight” in their report issued on Wednesday, July 26th.The final broker worth mentioning here is Robert W. Baird who has affirmed an “outperform” rating time and again.They have currently re-established a target price of$284.OO for shares of Visa as per the latest update relayed through their report dated Thursday, September 14th.
In conclusion, out of the investment analysts who have rated Visa’s stock thus far, one analyst has designated it as a sell recommendation while another has opted for a hold rating.For the remaining sixteen analysts though, they have unanimously assigned a buy rating to Visa’s stock.According to data compiled by Bloomberg, Visa has been recognized with an average rating of “Moderate Buy” along with a consensus target price of $273.77.
It remains to be seen how these positions may fluctuate in light of market trends and future developments within the financial industry.However, considering the current circumstances and recent moves made by institutional investors and hedge funds vis-à-vis Visa I.Start”, it seems that there is substantial confidence in its long-term growth potential
