Angeles Wealth Management LLC Acquires 2,111 Shares of Visa Inc. $V

Key Points

• Angeles Wealth Management LLC increased its holdings in Visa Inc. by 13.1% in the second quarter, acquiring an additional 2,111 shares to total 18,239 shares worth approximately $6.48 million.
• Institutional investors now own 82.15% of Visa's stock, with significant positions held by Fjarde AP Fonden and UBS AM, among others.
• Analysts have recently raised their price targets for Visa shares, with Morgan Stanley increasing its target from $386 to $402 and Macquarie from $380 to $425.

Angeles Wealth Management LLC grew its holdings in Visa Inc. (NYSE:V - Free Report) by 13.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,239 shares of the credit-card processor's stock after purchasing an additional 2,111 shares during the quarter. Visa makes up 0.4% of Angeles Wealth Management LLC's portfolio, making the stock its 27th biggest position. Angeles Wealth Management LLC's holdings in Visa were worth $6,476,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after buying an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC grew its position in shares of Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock worth $564,000 after buying an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC purchased a new position in shares of Visa in the 2nd quarter worth approximately $862,000. Iron Gate Global Advisors LLC grew its position in shares of Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock worth $22,040,000 after buying an additional 3,484 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $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 available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business'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 transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This represents 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on V. Morgan Stanley lifted their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Macquarie boosted their target price on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $389.00.

Visa Stock Up 0.7%

NYSE:V opened at $344.44 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a twelve month low of $280.78 and a twelve month high of $375.51. The company's 50 day moving average is $344.47 and its two-hundred day moving average is $347.11. The company has a market cap of $631.28 billion, a PE ratio of 33.64, a P/E/G ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during 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 firm's revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 earnings per share. Analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's payout ratio is currently 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.

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