Tritonpoint Wealth LLC Has $21.86 Million Stock Position in Visa Inc. $V

Tritonpoint Wealth LLC cut its position in Visa Inc. (NYSE:V) by 3.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 61,561 shares of the credit-card processor’s stock after selling 2,459 shares during the period. Visa makes up about 2.0% of Tritonpoint Wealth LLC’s investment portfolio, making the stock its 9th largest position. Tritonpoint Wealth LLC’s holdings in Visa were worth $21,857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Keystone Global Partners LLC acquired a new stake in shares of Visa during the first quarter worth $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the second quarter worth $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the first quarter worth $27,000. 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 in the last quarter. Finally, Westend Capital Management LLC lifted its holdings in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after buying an additional 49 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 0.3%

V stock opened at $341.34 on Wednesday. The company has a market cap of $625.61 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92. The business has a 50-day simple moving average of $344.23 and a 200 day simple moving average of $346.51. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.42 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s payout ratio is presently 23.05%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Macquarie lifted their target price on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, UBS Group reaffirmed a “buy” rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $385.96.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated 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 transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

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.