Visa Inc. $V Shares Acquired by Hemington Wealth Management

Hemington Wealth Management lifted its position in shares of Visa Inc. (NYSE:V) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,461 shares of the credit-card processor’s stock after purchasing an additional 36 shares during the quarter. Hemington Wealth Management’s holdings in Visa were worth $873,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Wealth Advisors LLC grew its stake in shares of Visa by 13.6% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 39,809 shares of the credit-card processor’s stock worth $14,134,000 after purchasing an additional 4,775 shares during the period. Natural Investments LLC grew its stake in Visa by 17.6% in the 2nd quarter. Natural Investments LLC now owns 6,306 shares of the credit-card processor’s stock valued at $2,238,000 after acquiring an additional 944 shares during the period. One Degree Advisors Inc acquired a new stake in Visa in the 2nd quarter valued at $255,000. Avion Wealth grew its stake in Visa by 242.3% in the 2nd quarter. Avion Wealth now owns 1,636 shares of the credit-card processor’s stock valued at $573,000 after acquiring an additional 1,158 shares during the period. Finally, Bey Douglas LLC grew its stake in Visa by 40.4% in the 2nd quarter. Bey Douglas LLC now owns 27,896 shares of the credit-card processor’s stock valued at $9,905,000 after acquiring an additional 8,029 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.7%

Shares of V opened at $345.81 on Thursday. Visa Inc. has a 52-week low of $278.35 and a 52-week high of $375.51. 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 firm’s fifty day moving average is $344.14 and its two-hundred day moving average is $346.97. 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.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 EPS. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. 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 payout ratio is presently 23.05%.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Robert W. Baird set a $410.00 price target on shares of Visa and gave the company an “outperform” rating in a research note on Monday, October 6th. Barclays reissued an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Morgan Stanley lifted their price target on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Oppenheimer lifted their price target on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $389.00.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.