TriaGen Wealth Management LLC Sells 308 Shares of Visa Inc. $V

TriaGen Wealth Management LLC reduced its holdings in Visa Inc. (NYSE:V) by 4.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,218 shares of the credit-card processor’s stock after selling 308 shares during the period. TriaGen Wealth Management LLC’s holdings in Visa were worth $2,208,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Lakeridge Wealth Management LLC increased its position 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 worth $528,000 after buying an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Visa by 14.5% during the 1st 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 purchasing an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC grew its holdings in shares of Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after purchasing an additional 111 shares in the last quarter. Consilium Wealth Advisory LLC acquired a new stake in shares of Visa during the 2nd quarter worth approximately $862,000. Finally, Iron Gate Global Advisors LLC grew its holdings in shares of Visa by 5.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after purchasing an additional 3,484 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V stock opened at $343.63 on Friday. The stock’s fifty day simple moving average is $343.77 and its 200 day simple moving average is $346.97. 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 $629.79 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 2.06 and a beta of 0.90. Visa Inc. has a one year low of $275.37 and a one year high of $375.51.

Visa (NYSE:V) last announced its quarterly 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 business 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 quarter in the previous year, the firm earned $2.42 EPS. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on V. UBS Group reissued a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays reissued an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Morgan Stanley lifted their price objective on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was 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 hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’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 completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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.