1,155 Shares in Visa Inc. $V Bought by Centennial Wealth Advisory LLC

Key Points

• Centennial Wealth Advisory LLC acquired 1,155 shares of Visa Inc., valued at approximately $412,000, in the second quarter, highlighting ongoing interest from institutional investors.
• CEO Ryan Mcinerney sold 10,485 shares of Visa, equating to a 95.13% decrease in his ownership, while other insiders also reported significant stock sales.
• Visa recently reported a quarterly EPS of $2.98, exceeding analyst expectations, and announced a quarterly dividend of $0.59, marking a 0.7% yield.

Centennial Wealth Advisory LLC acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,155 shares of the credit-card processor's stock, valued at approximately $412,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the first quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the second quarter worth $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter worth $27,000. Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC raised its holdings in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock worth $38,000 after acquiring an additional 49 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Visa

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 transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% 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 0.5%

Visa stock opened at $345.97 on Friday. 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 business's 50-day simple moving average is $343.92 and its 200-day simple moving average is $346.60. The firm has a market capitalization of $634.09 billion, a PE ratio of 33.79, a PEG ratio of 2.06 and a beta of 0.90. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping 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 period in the previous year, the company posted $2.42 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Oppenheimer increased their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Erste Group Bank cut Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target for the company. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

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.

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