Monterey Private Wealth Inc. Purchases 695 Shares of Visa Inc. (NYSE:V)

Monterey Private Wealth Inc. grew its position in shares of Visa Inc. (NYSE:V) by 17.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,640 shares of the credit-card processor’s stock after acquiring an additional 695 shares during the quarter. Monterey Private Wealth Inc.’s holdings in Visa were worth $1,102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Graham Capital Wealth Management LLC purchased a new position in shares of Visa in the 1st quarter worth approximately $299,862,000. Financial Freedom LLC purchased a new stake in shares of Visa in the fourth quarter valued at $32,000. Ridgewood Investments LLC purchased a new stake in shares of Visa in the first quarter valued at $35,000. Kalos Management Inc. purchased a new position in shares of Visa during the 1st quarter worth about $40,000. Finally, NewSquare Capital LLC boosted its stake in shares of Visa by 121.9% during the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock worth $48,000 after purchasing an additional 117 shares during the period. 81.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. Raymond James raised their price objective on shares of Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Credit Suisse Group lifted their price target on shares of Visa from $265.00 to $275.00 in a research note on Wednesday, July 26th. Wells Fargo & Company increased their price objective on Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Royal Bank of Canada lifted their target price on Visa from $265.00 to $290.00 in a research report on Wednesday, July 26th. Finally, Barclays increased their price target on Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.77.

Insider Buying and Selling

In other Visa news, insider Rajat Taneja sold 15,800 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the transaction, the insider now owns 232,112 shares in the company, valued at approximately $58,030,321.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Rajat Taneja sold 15,800 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total value of $3,950,158.00. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $58,030,321.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $247.47, for a total value of $2,016,880.50. The disclosure for this sale can be found here. Insiders sold 81,550 shares of company stock worth $19,795,806 in the last three months. Corporate insiders own 0.21% of the company’s stock.

Visa Price Performance

NYSE V opened at $244.64 on Tuesday. The firm’s fifty day simple moving average is $241.67 and its two-hundred day simple moving average is $232.37. The firm has a market capitalization of $455.48 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.81 and a beta of 0.95. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $250.06.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.05. Visa had a return on equity of 49.42% and a net margin of 51.94%. The firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the business earned $1.98 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Visa Inc. will post 8.65 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, August 10th. Visa’s payout ratio is currently 22.84%.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.