Hidden Cove Wealth Management LLC Has $353,000 Stock Position in Visa Inc. $V

Hidden Cove Wealth Management LLC raised its position in Visa Inc. (NYSE:V) by 10.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 995 shares of the credit-card processor’s stock after acquiring an additional 92 shares during the period. Hidden Cove Wealth Management LLC’s holdings in Visa were worth $353,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in V. Brighton Jones LLC raised its holdings in Visa by 50.1% in the 4th 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 in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $85,000. Aegis Wealth Management LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $300,000. Finally, Mattson Financial Services LLC raised its holdings in shares of Visa by 27.8% in the 4th quarter. Mattson Financial Services LLC now owns 11,113 shares of the credit-card processor’s stock worth $3,512,000 after buying an additional 2,415 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on V. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday. Truist Financial dropped their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Finally, Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Stock Down 0.0%

NYSE V opened at $338.69 on Thursday. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $620.75 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. The stock’s 50 day simple moving average is $345.19 and its 200 day simple moving average is $346.27.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $9.82 billion. During the same period last year, the company earned $2.42 EPS. The firm’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

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.