1858 Wealth Management LLC Grows Holdings in Visa Inc. $V

1858 Wealth Management LLC increased its position in shares of Visa Inc. (NYSE:V) by 7.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,609 shares of the credit-card processor’s stock after buying an additional 258 shares during the period. 1858 Wealth Management LLC’s holdings in Visa were worth $1,281,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Keystone Global Partners LLC purchased a new position in Visa during the first quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new position in Visa during the 1st quarter worth about $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa in the 2nd quarter valued at about $28,000. Cranbrook Wealth Management LLC grew its stake in 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. Finally, 1 North Wealth Services LLC acquired a new stake in Visa during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on V shares. Macquarie raised their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Raymond James Financial restated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One equities research 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $389.00.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s 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 sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Trading Down 0.7%

V opened at $345.81 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $633.80 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. The company has a fifty day moving average of $344.14 and a 200-day moving average of $346.97. Visa Inc. has a twelve month low of $278.35 and a twelve month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the firm earned $2.42 earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

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.