Independent Wealth Network Inc. Has $1.97 Million Holdings in Visa Inc. $V

Independent Wealth Network Inc. grew its holdings in shares of Visa Inc. (NYSE:V) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,555 shares of the credit-card processor’s stock after purchasing an additional 215 shares during the period. Independent Wealth Network Inc.’s holdings in Visa were worth $1,972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in V. Lakeridge Wealth Management LLC lifted its stake in Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after purchasing an additional 81 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after buying an additional 57,800 shares during the last quarter. Iron Gate Global Advisors LLC raised its stake in Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after buying an additional 3,484 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Finally, Yeomans Consulting Group Inc. grew its holdings in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after purchasing an additional 29 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’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 transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $190,001.34. The trade was 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on V. Barclays restated an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. UBS Group reaffirmed a “buy” rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $385.96.

Visa Stock Performance

Shares of V opened at $337.15 on Monday. The business’s 50 day moving average is $344.65 and its two-hundred day moving average is $346.48. Visa Inc. has a 52-week low of $272.78 and a 52-week high of $375.51. The firm has a market cap of $617.93 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 2.24 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 EPS. Analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Visa 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.