Wheelhouse Advisory Group LLC Buys Shares of 581 Visa Inc. $V

Wheelhouse Advisory Group LLC bought a new stake in Visa Inc. (NYSE:V) during the second quarter, HoldingsChannel.com reports. The firm bought 581 shares of the credit-card processor’s stock, valued at approximately $206,000.

Other large investors have also recently modified their holdings of the company. Keystone Global Partners LLC acquired a new stake in shares of Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the 2nd quarter valued at $28,000. Cranbrook Wealth Management LLC boosted its holdings 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 valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Visa during the 1st quarter valued at $38,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

V has been the topic of several recent research reports. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. UBS Group reissued a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. Raymond James Financial reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $389.00.

Visa Stock Performance

V stock opened at $343.63 on Friday. The stock has a 50-day moving average price of $343.77 and a 200-day moving average price of $346.97. Visa Inc. has a 1-year low of $275.37 and a 1-year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $629.79 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the company posted $2.42 EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is 23.05%.

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.