706 Shares in Visa Inc. $V Bought by Able Wealth Management LLC

Able Wealth Management LLC bought a new position in shares of Visa Inc. (NYSE:V) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 706 shares of the credit-card processor’s stock, valued at approximately $251,000.

A number of other institutional investors have also recently made changes to their positions in V. Brighton Jones LLC boosted its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Kingsman Wealth Management Inc. bought a new stake in Visa in the first quarter worth approximately $1,935,000. Capital & Planning LLC lifted its stake in Visa by 25.1% in the first quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock valued at $416,000 after buying an additional 238 shares during the period. Finally, May Hill Capital LLC increased its stake in shares of Visa by 8.2% in the 1st quarter. May Hill Capital LLC now owns 2,691 shares of the credit-card processor’s stock valued at $943,000 after acquiring an additional 203 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 1.0%

V stock opened at $336.63 on Friday. The company has a market capitalization of $616.97 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.06 and a beta of 0.87. The business has a 50 day simple moving average of $343.84 and a two-hundred day simple moving average of $348.51. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the company earned $2.71 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio is currently 23.11%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lloyd Carney sold 900 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,897 shares of company stock valued at $8,164,561 in the last quarter. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on V. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Barclays restated an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Finally, Robert W. Baird set a $425.00 price target on shares of Visa in a report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $400.00.

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.