Bay Harbor Wealth Management LLC Has $181,000 Stock Position in Visa Inc. $V

Bay Harbor Wealth Management LLC lifted its stake in Visa Inc. (NYSE:V) by 38.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 511 shares of the credit-card processor’s stock after purchasing an additional 142 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Visa were worth $181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of V. Nuveen LLC acquired a new position in shares of Visa in the 1st quarter valued at $3,518,533,000. Vanguard Group Inc. lifted its stake in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP lifted its stake in Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in Visa in the 1st quarter worth about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on V. Oppenheimer increased their price objective on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Truist Financial reduced their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Robert W. Baird set a $410.00 price objective on Visa and gave the stock an “outperform” rating in a research note on Monday. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Morgan Stanley increased their price objective on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $389.00.

Visa Stock Performance

Shares of NYSE V opened at $351.96 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $645.06 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 2.07 and a beta of 0.90. The business’s 50-day simple moving average is $343.65 and its 200-day simple moving average is $346.93. Visa Inc. has a 52 week low of $274.01 and a 52 week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates 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%.The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 EPS. As a group, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.