Simplicity Wealth LLC Has $13.04 Million Stock Holdings in Visa Inc. $V

Simplicity Wealth LLC raised its position in Visa Inc. (NYSE:V) by 97.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,728 shares of the credit-card processor’s stock after buying an additional 18,153 shares during the quarter. Simplicity Wealth LLC’s holdings in Visa were worth $13,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chemung Canal Trust Co. grew its holdings in Visa by 5.4% in the 2nd quarter. Chemung Canal Trust Co. now owns 13,782 shares of the credit-card processor’s stock valued at $4,893,000 after buying an additional 708 shares in the last quarter. Olistico Wealth LLC grew its holdings in Visa by 14.0% in the 2nd quarter. Olistico Wealth LLC now owns 3,381 shares of the credit-card processor’s stock valued at $1,200,000 after buying an additional 416 shares in the last quarter. Sutton Place Investors LLC grew its holdings in Visa by 12.3% in the 2nd quarter. Sutton Place Investors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $465,000 after buying an additional 143 shares in the last quarter. Wealthcare Capital Partners LLC grew its holdings in Visa by 3.5% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 1,342 shares of the credit-card processor’s stock valued at $476,000 after buying an additional 46 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in Visa by 2.8% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 37,601 shares of the credit-card processor’s stock valued at $13,350,000 after buying an additional 1,038 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the 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 transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

NYSE:V opened at $351.96 on Wednesday. The stock’s 50-day simple moving average is $343.65 and its 200 day simple moving average is $346.93. The firm has a market capitalization of $645.06 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90. 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 Inc. has a twelve month low of $274.01 and a twelve month high of $375.51.

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

Visa Announces Dividend

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

Analysts Set New Price Targets

V has been the topic of a number of research reports. Barclays reaffirmed an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Macquarie increased their target price on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Saturday, September 27th. Oppenheimer increased their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, UBS Group reissued a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

About Visa

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.