Belpointe Asset Management LLC Has $6.85 Million Stock Holdings in Visa Inc. $V

Belpointe Asset Management LLC boosted its position in Visa Inc. (NYSE:V) by 32.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,540 shares of the credit-card processor’s stock after acquiring an additional 4,744 shares during the period. Belpointe Asset Management LLC’s holdings in Visa were worth $6,848,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Keystone Global Partners LLC acquired a new stake in shares of Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new position in Visa in the first quarter valued at approximately $27,000. 1 North Wealth Services LLC acquired a new position in Visa in the first quarter valued at approximately $38,000. Measured Risk Portfolios Inc. bought a new position in Visa in the fourth quarter valued at approximately $47,000. Finally, O Brien Wealth Partners LLC acquired a new stake in Visa during the 1st quarter worth $54,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.5%

NYSE:V opened at $344.11 on Wednesday. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The stock has a 50-day moving average price of $348.03 and a two-hundred day moving average price of $347.13. The stock has a market cap of $630.68 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 2.28 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the business posted $2.42 EPS. Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio is currently 23.05%.

Wall Street Analysts Forecast Growth

Several analysts have commented on V shares. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Barclays reaffirmed an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Citigroup began coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They set a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $385.96.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’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 completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Company 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.