2,009 Shares in Visa Inc. $V Bought by Williams & Novak LLC

Key Points

• Williams & Novak LLC acquired 2,009 shares of Visa Inc. for approximately $713,000 in the second quarter, highlighting growing institutional interest in the stock.
• Visa reported $10.17 billion in revenue for the latest quarter, exceeding analysts' expectations and achieving a 14.3% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.59 per share, reflecting a 0.7% dividend yield, with a payout ratio of 23.05%.

Williams & Novak LLC purchased a new position in Visa Inc. (NYSE:V - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,009 shares of the credit-card processor's stock, valued at approximately $713,000.

A number of other large investors have also bought and sold shares of the stock. Aberdeen Group plc grew its holdings in Visa by 7.8% in the second quarter. Aberdeen Group plc now owns 1,514,348 shares of the credit-card processor's stock worth $534,747,000 after purchasing an additional 109,146 shares during the period. Agate Pass Investment Management LLC grew its holdings in Visa by 0.7% in the second quarter. Agate Pass Investment Management LLC now owns 5,305 shares of the credit-card processor's stock worth $1,884,000 after purchasing an additional 35 shares during the period. Greenwood Gearhart Inc. grew its holdings in Visa by 2.4% in the second quarter. Greenwood Gearhart Inc. now owns 49,101 shares of the credit-card processor's stock worth $17,433,000 after purchasing an additional 1,165 shares during the period. Blue Zone Wealth Advisors LLC grew its holdings in Visa by 7.2% in the second quarter. Blue Zone Wealth Advisors LLC now owns 24,170 shares of the credit-card processor's stock worth $8,582,000 after purchasing an additional 1,621 shares during the period. Finally, Strong Tower Advisory Services grew its holdings in Visa by 2.9% in the second quarter. Strong Tower Advisory Services now owns 22,162 shares of the credit-card processor's stock worth $7,869,000 after purchasing an additional 621 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on V shares. Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Robert W. Baird set a $410.00 price target on shares of Visa and gave the stock an "outperform" rating in a report on Monday, October 6th. Barclays reiterated an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and a consensus target price of $389.00.

Visa Stock Up 1.5%

Shares of NYSE V opened at $348.39 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50-day moving average price of $344.01 and a 200-day moving average price of $346.98. Visa Inc. has a 1 year low of $278.35 and a 1 year high of $375.51. The stock has a market capitalization of $638.53 billion, a P/E ratio of 34.02, a P/E/G ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results 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 company 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 firm's revenue was up 14.3% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is presently 23.05%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm'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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm'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 $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. 0.13% of the stock is owned by company insiders.

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.

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