Gradient Investments LLC Has $51.53 Million Stock Position in Visa Inc. $V

Key Points

• Gradient Investments LLC reduced its stake in Visa by 4.1%, now holding 145,123 shares valued at approximately $51.53 million, making Visa its 27th largest holding.
• Visa recently experienced growth in its quarterly earnings, reporting $2.98 EPS, surpassing consensus estimates of $2.85, alongside a 14.3% year-over-year revenue increase to $10.17 billion.
• The stock has received a consensus rating of Moderate Buy from analysts, with a target price of $385.96, and 20 analysts rated it a Buy while one rated it as a Strong Buy.

Gradient Investments LLC lowered its stake in Visa Inc. (NYSE:V - Free Report) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 145,123 shares of the credit-card processor's stock after selling 6,189 shares during the quarter. Visa comprises approximately 0.9% of Gradient Investments LLC's holdings, making the stock its 27th largest holding. Gradient Investments LLC's holdings in Visa were worth $51,526,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Mirabaud & Cie SA lifted its stake in shares of Visa by 1.0% in the 2nd quarter. Mirabaud & Cie SA now owns 30,017 shares of the credit-card processor's stock valued at $10,658,000 after purchasing an additional 298 shares during the period. GK Wealth Management LLC lifted its stake in shares of Visa by 13.7% in the 2nd quarter. GK Wealth Management LLC now owns 3,311 shares of the credit-card processor's stock valued at $1,176,000 after purchasing an additional 399 shares during the period. Parallel Advisors LLC lifted its stake in shares of Visa by 3.2% in the 2nd quarter. Parallel Advisors LLC now owns 83,385 shares of the credit-card processor's stock valued at $29,606,000 after purchasing an additional 2,592 shares during the period. Madison Park Capital Advisors LLC acquired a new position in shares of Visa in the 2nd quarter valued at $272,000. Finally, Park Edge Advisors LLC lifted its stake in shares of Visa by 71.2% in the 2nd quarter. Park Edge Advisors LLC now owns 4,538 shares of the credit-card processor's stock valued at $1,611,000 after purchasing an additional 1,887 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. Truist Financial lowered 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. Oppenheimer upped 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. Macquarie upped 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. Barclays restated an "overweight" rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. One 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Visa Stock Performance

V opened at $339.33 on Monday. The business's 50-day moving average price is $347.03 and its two-hundred day moving average price is $346.86. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The company has a market capitalization of $621.92 billion, a price-to-earnings ratio of 33.14, a P/E/G ratio of 2.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

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 (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the business posted $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Company 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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