Stonebridge Financial Planning Group LLC Has $2.99 Million Stock Position in Visa Inc. $V

Stonebridge Financial Planning Group LLC lessened its stake in Visa Inc. (NYSE:V) by 5.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,410 shares of the credit-card processor’s stock after selling 468 shares during the quarter. Visa accounts for about 1.2% of Stonebridge Financial Planning Group LLC’s investment portfolio, making the stock its 19th biggest holding. Stonebridge Financial Planning Group LLC’s holdings in Visa were worth $2,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Yeomans Consulting Group Inc. raised its stake in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC boosted its position in shares of Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after buying an additional 29 shares during the period. BankPlus Wealth Management LLC grew its holdings in shares of Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after buying an additional 29 shares in the last quarter. Transcendent Capital Group LLC lifted its stake in Visa by 2.9% in the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Finally, BXM Wealth LLC lifted its stake in Visa by 3.7% in the 1st quarter. BXM Wealth LLC now owns 834 shares of the credit-card processor’s stock valued at $291,000 after acquiring an additional 30 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on V. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Finally, Morgan Stanley set a $398.00 target price on Visa and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $400.00.

Visa Stock Down 1.0%

Shares of V stock opened at $336.63 on Friday. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The stock has a market cap of $616.97 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.06 and a beta of 0.87. The firm’s 50-day moving average is $343.84 and its 200-day moving average is $348.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 60.31% and a net margin of 50.15%.The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 earnings per share. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction 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 completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,897 shares of company stock valued at $8,164,561 in the last quarter. 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.