Baker Tilly Wealth Management LLC Has $4.11 Million Position in Visa Inc. $V

Key Points

• Baker Tilly Wealth Management LLC reduced its holdings in Visa Inc. by 7.1%, selling 879 shares and now holding 11,586 shares, valued at approximately $4.1 million.
• Visa recently reported earnings of $2.98 EPS for the quarter, surpassing analyst estimates, and its revenue rose by 14.3% year-over-year.
• The company's recent dividend announcement included a quarterly payment of $0.59 per share, representing an annual yield of 0.7%.

Baker Tilly Wealth Management LLC decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,586 shares of the credit-card processor's stock after selling 879 shares during the quarter. Visa comprises approximately 1.5% of Baker Tilly Wealth Management LLC's investment portfolio, making the stock its 17th biggest holding. Baker Tilly Wealth Management LLC's holdings in Visa were worth $4,114,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of V. Brighton Jones LLC boosted its stake in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after acquiring an additional 4,817 shares during the last quarter. BIP Alliance LLC bought a new position in Visa during the 4th quarter worth approximately $392,000. 49 Wealth Management LLC boosted its stake in Visa by 1.7% during the 4th quarter. 49 Wealth Management LLC now owns 3,582 shares of the credit-card processor's stock worth $1,132,000 after acquiring an additional 61 shares during the last quarter. Finally, Harmony Asset Management LLC boosted its stake in Visa by 0.7% during the 4th quarter. Harmony Asset Management LLC now owns 19,743 shares of the credit-card processor's stock worth $6,240,000 after acquiring an additional 128 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 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock was 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 in the company, valued at approximately $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 currently owned by insiders.

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. UBS Group reissued a "buy" rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. 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. Finally, Macquarie lifted their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One investment 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. According to data from MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Stock Up 1.2%

Shares of V stock traded up $3.89 during trading on Friday, reaching $342.07. The company's stock had a trading volume of 13,657,860 shares, compared to its average volume of 4,986,314. The business has a fifty day moving average price of $345.70 and a 200-day moving average price of $346.41. 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 company has a market cap of $626.94 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. Visa Inc. has a one year low of $268.23 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last announced 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 net margin of 52.16% and a return on equity of 58.93%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 earnings per share. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

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.