Austin Private Wealth LLC Cuts Stake in Visa Inc. $V

Austin Private Wealth LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 9.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,334 shares of the credit-card processor’s stock after selling 569 shares during the quarter. Austin Private Wealth LLC’s holdings in Visa were worth $1,894,000 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 V. Brighton Jones LLC boosted its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Visa by 68.9% in the fourth 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. Kingsman Wealth Management Inc. purchased a new stake in shares of Visa in the first quarter worth about $1,935,000. CHURCHILL MANAGEMENT Corp lifted its holdings in shares of Visa by 1.5% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 46,190 shares of the credit-card processor’s stock worth $16,188,000 after buying an additional 700 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Visa in the first quarter worth about $217,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 1.0%

Shares of Visa stock opened at $344.53 on Friday. Visa Inc. has a 1 year low of $287.19 and a 1 year high of $375.51. The firm has a market cap of $631.44 billion, a PE ratio of 33.74, a PEG ratio of 2.02 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. The company has a 50 day simple moving average of $344.94 and a two-hundred day simple moving average of $348.27.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $2.71 earnings per share. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is 23.11%.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley set a $398.00 price target on shares of Visa and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Barclays reissued 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. Robert W. Baird set a $425.00 price target on shares of Visa in a report on Wednesday. Finally, UBS Group set a $425.00 price target on shares of Visa and gave the stock a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $400.00.

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.