Angeles Wealth Management LLC Boosts Stake in Visa Inc. $V

Key Points

• Angeles Wealth Management increased its Visa stake by 14.4% in the second quarter, bringing its holdings to 31,305 shares valued at approximately $10.74 million. Institutional investors collectively own 82.15% of Visa.
• Analysts remain bullish, with Visa receiving a consensus “Buy” rating and an average price target of $416.62; several firms recently raised their targets.
• Visa exceeded quarterly earnings and revenue estimates, reporting $3.32 in EPS and $11.63 billion in revenue, while revenue grew 14.4% year over year. The company also declared a quarterly dividend of $0.67 per share, though insiders sold more than $37.5 million of stock over the past 90 days.

Angeles Wealth Management LLC raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 14.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,305 shares of the credit-card processor's stock after buying an additional 3,929 shares during the quarter. Visa comprises about 0.4% of Angeles Wealth Management LLC's investment portfolio, making the stock its 27th biggest position. Angeles Wealth Management LLC's holdings in Visa were worth $10,740,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of V. Parvin Asset Management LLC lifted its position in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Philadelphia Investment Partners LLC acquired a new position in Visa in the 2nd quarter valued at about $29,000. Virtus Advisers LLC purchased a new position in Visa in the 2nd quarter valued at about $33,000. RHL Group LLC purchased a new position in Visa in the 4th quarter valued at about $34,000. Finally, Timmons Wealth Management LLC acquired a new stake in shares of Visa during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on V shares. Wells Fargo & Company reiterated an "overweight" rating and set a $432.00 price target (up from $412.00) on shares of Visa in a report on Thursday, July 30th. TD Cowen reissued a "buy" rating on shares of Visa in a research note on Wednesday, July 29th. Royal Bank Of Canada restated an "outperform" rating and set a $466.00 target price (up from $412.00) on shares of Visa in a research report on Monday, August 31st. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $450.00 target price on shares of Visa in a research note on Tuesday, June 2nd. Finally, Barclays initiated coverage on Visa in a report on Tuesday, July 7th. They issued an "overweight" rating and a $420.00 price target for the company. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company's stock. Based on data from MarketBeat, Visa currently has a consensus rating of "Buy" and an average price target of $416.62.

Visa Trading Down 1.1%

Shares of V stock opened at $374.46 on Friday. The firm has a market cap of $668.20 billion, a P/E ratio of 31.84, a PEG ratio of 2.01 and a beta of 0.76. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $385.57. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The firm's 50-day simple moving average is $363.63 and its 200-day simple moving average is $333.27.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The firm had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the firm earned $2.98 earnings per share. Visa's revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts forecast that Visa Inc. will post 13.16 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 11th. Visa's dividend payout ratio (DPR) is 22.79%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 5,875 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $379.65, for a total transaction of $2,230,443.75. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company's stock, valued at $5,760,809.10. The trade was a 27.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider owned 49,662 shares of the company's stock, valued at approximately $18,125,140.14. The trade was a 53.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 104,537 shares of company stock valued at $37,540,837 in the last ninety days. Company insiders own 0.12% of the company's stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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