Allworth Financial LP Purchases 24,580 Shares of Visa Inc. $V

Allworth Financial LP boosted its holdings in Visa Inc. (NYSE:V) by 21.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,672 shares of the credit-card processor’s stock after buying an additional 24,580 shares during the quarter. Allworth Financial LP’s holdings in Visa were worth $49,946,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in V. Keystone Global Partners LLC acquired a new position in Visa in the first quarter valued at $26,000. Family Legacy Financial Solutions LLC bought a new position in Visa during the second quarter worth $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at about $29,000. Cranbrook Wealth Management LLC boosted its holdings in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Hoese & Co LLP acquired a new stake in Visa in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, Director Lloyd Carney sold 900 shares of the stock in a transaction on Tuesday, November 4th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,897 shares of company stock valued at $8,164,561 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Down 0.5%

V stock opened at $334.49 on Tuesday. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The firm has a market capitalization of $613.05 billion, a PE ratio of 32.76, a PEG ratio of 2.03 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $343.17 and a two-hundred day simple moving average of $348.83.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $2.71 earnings per share. On average, equities analysts predict 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. Shareholders of record on Wednesday, November 12th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is 23.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on V shares. Barclays reiterated 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. KeyCorp restated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Macquarie reduced their target price on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $400.00.

About Visa

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.