Visa Inc. $V Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC boosted its position in Visa Inc. (NYSE:V) by 45.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,167 shares of the credit-card processor’s stock after buying an additional 9,056 shares during the quarter. SteelPeak Wealth LLC’s holdings in Visa were worth $9,957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa in the second quarter worth about $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the 2nd quarter worth approximately $29,000. Sagard Holdings Management Inc. acquired a new position in shares of Visa in the 2nd quarter valued at approximately $31,000. Cranbrook Wealth Management LLC raised its position in shares of Visa by 82.0% in the 2nd 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, Bare Financial Services Inc boosted its stake in shares of Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 66 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. This trade represents a 7.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 13,557 shares of company stock worth $4,586,137. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. UBS Group set a $425.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Raymond James Financial reissued an “outperform” rating and issued a $408.00 price objective (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Finally, Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $402.52.

Visa Price Performance

V opened at $346.52 on Monday. 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 company’s 50-day moving average price is $339.15 and its 200 day moving average price is $343.78. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The firm has a market cap of $631.26 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 2.04 and a beta of 0.81.

Visa (NYSE:V) last issued its earnings results 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 the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.71 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were given a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 12th. Visa’s dividend payout ratio is 26.25%.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.