Envestnet Portfolio Solutions Inc. Has $57.49 Million Stake in Visa Inc. $V

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Visa Inc. by 6.2% during the second quarter, raising its holdings to 161,916 shares valued at approximately $57.49 million.
• Visa reported $2.98 earnings per share for the latest quarter, exceeding expectations and demonstrating a 14.3% revenue growth year-over-year, with total revenue reaching $10.17 billion.
• The company's recent quarterly dividend was paid at $0.59 per share, resulting in an annualized yield of 0.7% and a payout ratio of 23.05%.

Envestnet Portfolio Solutions Inc. increased its position in shares of Visa Inc. (NYSE:V - Free Report) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,916 shares of the credit-card processor's stock after buying an additional 9,491 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Visa were worth $57,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Endowment Wealth Management Inc. acquired a new position in Visa during the second quarter worth $354,000. RoundAngle Advisors LLC boosted its position in Visa by 1.6% during the second quarter. RoundAngle Advisors LLC now owns 5,137 shares of the credit-card processor's stock worth $1,824,000 after purchasing an additional 81 shares during the period. Concord Asset Management LLC VA boosted its position in Visa by 26.7% during the second quarter. Concord Asset Management LLC VA now owns 9,295 shares of the credit-card processor's stock worth $3,300,000 after purchasing an additional 1,959 shares during the period. Sequoia Financial Advisors LLC boosted its position in Visa by 5.1% during the second quarter. Sequoia Financial Advisors LLC now owns 231,510 shares of the credit-card processor's stock worth $82,198,000 after purchasing an additional 11,334 shares during the period. Finally, Total Clarity Wealth Management Inc. boosted its position in Visa by 10.7% during the second quarter. Total Clarity Wealth Management Inc. now owns 1,846 shares of the credit-card processor's stock worth $656,000 after purchasing an additional 178 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 1.9%

Shares of Visa stock opened at $341.90 on Friday. The firm has a 50-day moving average of $344.30 and a 200-day moving average of $346.83. The stock has a market cap of $626.63 billion, a PE ratio of 33.39, a PEG ratio of 1.99 and a beta of 0.90. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $9.82 billion. During the same quarter in the prior year, the business posted $2.42 earnings per share. Visa's revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed 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 of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio is currently 23.05%.

Analyst Upgrades and Downgrades

A number of research firms have commented on V. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. 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 research report on Thursday, July 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the stock an "outperform" rating in a research report on Monday, October 6th. Finally, UBS Group reaffirmed a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus price target of $389.00.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company'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 completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company'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 sale, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

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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