Red Door Wealth Management LLC Has $4.21 Million Stake in Visa Inc. (NYSE:V)

Red Door Wealth Management LLC raised its position in Visa Inc. (NYSE:VGet Rating) by 6.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,360 shares of the credit-card processor’s stock after purchasing an additional 1,231 shares during the period. Visa accounts for approximately 1.6% of Red Door Wealth Management LLC’s portfolio, making the stock its 21st largest position. Red Door Wealth Management LLC’s holdings in Visa were worth $4,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Co. of Virginia VA increased its stake in shares of Visa by 0.9% in the 1st quarter. Trust Co. of Virginia VA now owns 82,676 shares of the credit-card processor’s stock valued at $18,335,000 after acquiring an additional 768 shares in the last quarter. Relyea Zuckerberg Hanson LLC increased its stake in shares of Visa by 21.4% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 3,629 shares of the credit-card processor’s stock valued at $774,000 after acquiring an additional 640 shares in the last quarter. Adams Chetwood Wealth Management LLC increased its stake in shares of Visa by 13.2% in the 1st quarter. Adams Chetwood Wealth Management LLC now owns 4,334 shares of the credit-card processor’s stock valued at $961,000 after acquiring an additional 507 shares in the last quarter. Newman Dignan & Sheerar Inc. increased its stake in shares of Visa by 1.7% in the 1st quarter. Newman Dignan & Sheerar Inc. now owns 6,088 shares of the credit-card processor’s stock valued at $1,350,000 after acquiring an additional 100 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of Visa by 4.3% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 13,155 shares of the credit-card processor’s stock valued at $2,938,000 after acquiring an additional 548 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on V. Robert W. Baird lowered their price objective on shares of Visa from $290.00 to $265.00 in a research note on Wednesday, July 20th. Daiwa Capital Markets lowered shares of Visa from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $230.00 to $225.00 in a research note on Tuesday, August 16th. Susquehanna Bancshares decreased their price target on shares of Visa from $290.00 to $260.00 in a research note on Thursday, July 28th. UBS Group boosted their price target on shares of Visa from $292.00 to $296.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Finally, Barclays boosted their price target on shares of Visa from $263.00 to $271.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $257.64.

Insider Buying and Selling

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $195.37, for a total value of $1,758,330.00. Following the transaction, the chief executive officer now directly owns 159,887 shares of the company’s stock, valued at approximately $31,237,123.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by insiders.

Visa Price Performance

Shares of NYSE:V opened at $187.02 on Thursday. The company’s 50-day moving average is $206.70 and its 200 day moving average is $207.03. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $353.55 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. Visa Inc. has a fifty-two week low of $185.91 and a fifty-two week high of $236.96.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Thursday, August 11th. Visa’s dividend payout ratio (DPR) is currently 22.12%.

Visa Profile

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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