Beaumont Financial Advisors LLC Cuts Position in Visa Inc. $V

Key Points

• Beaumont Financial Advisors LLC trimmed its Visa Inc. holdings by 6% in the second quarter, owning 64,681 shares valued at approximately $22.97 million, making it Visa's 18th largest position in their portfolio.
• Visa's earnings per share (EPS) for the last quarter was $2.98, exceeding analysts' expectations of $2.85, alongside a notable revenue increase of 14.3% year-over-year.
• The firm declared a quarterly dividend of $0.59, resulting in an annualized dividend of $2.36, which reflects a yield of 0.7% and a payout ratio of 23.05%.

Beaumont Financial Advisors LLC decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 6.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 64,681 shares of the credit-card processor's stock after selling 4,156 shares during the period. Visa makes up about 1.7% of Beaumont Financial Advisors LLC's investment portfolio, making the stock its 18th largest position. Beaumont Financial Advisors LLC's holdings in Visa were worth $22,965,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Keystone Global Partners LLC purchased a new position in Visa in the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa in the second quarter valued at approximately $28,000. von Borstel & Associates Inc. acquired a new stake in Visa in the first quarter valued at approximately $27,000. Cranbrook Wealth Management LLC grew its position in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC grew its position in Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Up 0.7%

V stock opened at $337.15 on Friday. Visa Inc. has a twelve month low of $272.78 and a twelve month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $617.93 billion, a P/E ratio of 32.92, a PEG ratio of 2.24 and a beta of 0.92. The firm has a 50 day simple moving average of $344.65 and a 200-day simple moving average of $346.35.

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, topping 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 business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the company earned $2.42 earnings per share. The business's quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value 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. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of 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. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, Macquarie increased their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Visa presently has an average rating of "Moderate Buy" and a consensus target price 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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