EP Wealth Advisors LLC Has $123.48 Million Holdings in Visa Inc. $V

Key Points

• EP Wealth Advisors increased its Visa position by 12.1% in the second quarter, bringing its holdings to 359,913 shares valued at approximately $123.48 million. Institutional investors and hedge funds collectively own 82.15% of Visa.
• Visa’s latest quarterly results exceeded expectations, with EPS of $3.32 and revenue of $11.63 billion, up 14.4% year over year. The company also authorized a $20 billion share-repurchase program and declared a quarterly dividend of $0.67 per share.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $413.58 versus the reported share price of $371.09. However, insiders sold 90,759 shares worth roughly $32.4 million over the past 90 days.

EP Wealth Advisors LLC lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 12.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 359,913 shares of the credit-card processor's stock after purchasing an additional 38,749 shares during the quarter. EP Wealth Advisors LLC's holdings in Visa were worth $123,483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Parvin Asset Management LLC grew its position in 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 during the last quarter. Cresta Advisors Ltd. acquired a new stake in Visa during the fourth quarter worth approximately $26,000. Virtus Advisers LLC bought a new stake in Visa in the second quarter valued at $33,000. RHL Group LLC bought a new stake in Visa in the fourth quarter valued at $34,000. Finally, Timmons Wealth Management LLC acquired a new position in shares of Visa during the fourth quarter valued at about $34,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Visa news, insider Tullier Kelly Mahon sold 57,272 shares of Visa stock in a transaction dated Thursday, July 30th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,490 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,219,704.26. The trade was a 40.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 90,759 shares of company stock worth $32,375,779. Insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on V shares. Morgan Stanley restated an "overweight" rating and issued a $416.00 target price on shares of Visa in a research note on Wednesday, July 29th. BNP Paribas Exane raised Visa to a "strong-buy" rating in a research note on Tuesday, July 21st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $412.00 price target (up from $395.00) on shares of Visa in a report on Wednesday, July 29th. Truist Financial set a $406.00 price objective on Visa and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $450.00 price objective on shares of Visa in a report on Tuesday, June 2nd. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $413.58.

Visa Stock Up 1.5%

V stock opened at $371.09 on Friday. The stock has a market cap of $662.18 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.96 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock's fifty day simple moving average is $353.73 and its two-hundred day simple moving average is $329.64. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $373.97.

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

Visa declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, August 11th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio is presently 22.79%.

About Visa

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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