Centennial Wealth Advisory LLC purchased a new stake in shares of Visa Inc. (NYSE:V – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,155 shares of the credit-card processor’s stock, valued at approximately $412,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Keystone Global Partners LLC bought a new position in Visa during the first quarter valued at about $26,000. von Borstel & Associates Inc. acquired a new stake in Visa during the first quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter valued at approximately $28,000. Cranbrook Wealth Management LLC boosted its holdings in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC acquired a new stake in Visa during the first quarter valued at approximately $38,000. 82.15% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Visa
In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’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 transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.
Visa Stock Down 0.5%
Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.42 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is 23.05%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on V. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Barclays reaffirmed an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, UBS Group reaffirmed a “buy” rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.
View Our Latest Analysis on Visa
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.
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