HB Wealth Management LLC Has $67.63 Million Stake in Visa Inc. $V

Key Points

• HB Wealth Management increased its Visa holdings by 1.4% in the second quarter, bringing its position to 197,131 shares valued at approximately $67.63 million. Institutional investors and hedge funds collectively own 82.15% of Visa.
• Analysts remain broadly bullish, with an average “Buy” rating and a $416.62 price target; Royal Bank of Canada recently raised its target to $466.00.
• Visa reported quarterly adjusted earnings of $3.32 per share and revenue of $11.63 billion, exceeding estimates, while insiders sold roughly $37.5 million worth of shares over the past 90 days. The company also paid a quarterly dividend of $0.67 per share.

HB Wealth Management LLC raised its holdings in Visa Inc. (NYSE:V - Free Report) by 1.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 197,131 shares of the credit-card processor's stock after buying an additional 2,801 shares during the quarter. HB Wealth Management LLC's holdings in Visa were worth $67,634,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in V. Parvin Asset Management LLC lifted its position in shares of Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after buying an additional 50 shares during the period. Philadelphia Investment Partners LLC acquired a new position in shares of Visa during the second quarter valued at $29,000. Virtus Advisers LLC acquired a new position in Visa during the 2nd quarter valued at about $33,000. RHL Group LLC bought a new stake in shares of Visa during the 4th quarter valued at $34,000. Finally, Timmons Wealth Management LLC bought a new stake in Visa in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on V. 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. Royal Bank Of Canada reiterated an "outperform" rating and issued a $466.00 target price (up from $412.00) on shares of Visa in a research note on Monday, August 31st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $430.00 price objective on shares of Visa in a research note on Wednesday, July 29th. Erste Group Bank raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, July 27th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $406.00 target price on shares of Visa in a research note on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $416.62.

Insider Buying and Selling

In related news, General Counsel Julie Rottenberg sold 2,028 shares of Visa stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $381.35, for a total value of $773,377.80. Following the transaction, the general counsel directly owned 18,404 shares of the company's stock, valued at $7,018,365.40. This trade represents a 9.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the transaction, the insider owned 49,662 shares of the company's stock, valued at approximately $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 104,537 shares of company stock worth $37,540,837. Corporate insiders own 0.12% of the company's stock.

Visa Trading Down 1.1%

Shares of NYSE:V opened at $374.46 on Friday. The company has a market capitalization of $668.20 billion, a P/E ratio of 31.84, a P/E/G ratio of 2.01 and a beta of 0.76. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $385.57. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The business's 50 day simple moving average is $363.63 and its 200 day simple moving average is $333.27.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share 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 analysts' expectations of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.98 EPS. On average, research analysts anticipate that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa's dividend payout ratio (DPR) is currently 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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