GeoWealth Management LLC Acquires 1,628 Shares of Visa Inc. $V

GeoWealth Management LLC raised its holdings in Visa Inc. (NYSE:V) by 12.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,149 shares of the credit-card processor’s stock after purchasing an additional 1,628 shares during the quarter. GeoWealth Management LLC’s holdings in Visa were worth $5,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Keystone Global Partners LLC acquired a new stake in Visa during the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa in the second quarter valued at $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa in the second quarter valued at about $29,000. Bare Financial Services Inc lifted its stake in shares of Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares during the last quarter. Finally, Cranbrook Wealth Management LLC lifted its stake in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 24,042 shares of company stock valued at $8,175,152 over the last quarter. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Macquarie decreased their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. KeyCorp restated an “overweight” rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 price objective (up from $398.00) on shares of Visa in a 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. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Visa Trading Down 0.8%

Shares of V stock opened at $326.94 on Friday. The stock has a market cap of $595.59 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 1.95 and a beta of 0.82. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $338.88 and a 200 day simple moving average of $346.42.

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 analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.71 EPS. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. Visa’s payout ratio is presently 26.25%.

Visa Company 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.