Heritage Financial Services LLC Grows Stake in Visa Inc. $V

Heritage Financial Services LLC raised its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 171.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,450 shares of the credit-card processor's stock after purchasing an additional 1,547 shares during the period. Heritage Financial Services LLC's holdings in Visa were worth $870,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Keystone Global Partners LLC purchased a new stake in Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the first quarter worth $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the second quarter valued at $28,000. Cranbrook Wealth Management LLC increased its position in shares of Visa by 82.0% in the 2nd 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 during the period. Finally, 1 North Wealth Services LLC purchased a new position in Visa in the 1st quarter worth $38,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on V shares. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Truist Financial dropped their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Morgan Stanley increased their price target on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Macquarie lifted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Oppenheimer upped their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Stock Performance

Shares of NYSE V opened at $349.90 on Friday. The company has a market capitalization of $641.28 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company's fifty day moving average price is $343.78 and its 200 day moving average price is $346.75. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data 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 in the prior year, the firm posted $2.42 earnings per share. The company's revenue was up 14.3% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

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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