Wealthspire Advisors LLC Increases Stock Holdings in Visa Inc. $V

Wealthspire Advisors LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,257 shares of the credit-card processor’s stock after buying an additional 371 shares during the quarter. Wealthspire Advisors LLC’s holdings in Visa were worth $9,323,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of V. Keystone Global Partners LLC acquired a new position in Visa in the first quarter valued at $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the second quarter worth about $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa in the 2nd quarter valued at about $29,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Hoese & Co LLP acquired a new stake in shares of Visa in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 1.5%

Shares of V opened at $320.78 on Wednesday. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $584.37 billion, a P/E ratio of 31.42, a P/E/G ratio of 1.97 and a beta of 0.87. The stock has a 50-day moving average price of $341.36 and a 200 day moving average price of $348.40.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.71 earnings per share. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 26.25%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,870 shares of company stock worth $7,467,233 over the last 90 days. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on V shares. Morgan Stanley set a $398.00 price target on Visa and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Raymond James Financial reissued an “outperform” rating and issued a $408.00 price objective (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Finally, Macquarie cut their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock 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.