Leo Wealth LLC Acquires 2,632 Shares of Visa Inc. $V

Key Points

• Leo Wealth LLC increased its stake in Visa by 49.9%, acquiring an additional 2,632 shares, bringing its total holdings to 7,903 shares valued at approximately $2.8 million.
• Visa reported quarterly earnings of $2.98 per share, exceeding analysts' estimates, with revenue of $10.17 billion, marking a year-over-year increase of 14.3%.
• Institutional investors currently hold 82.15% of Visa's stock, indicating significant institutional confidence in the company.

Leo Wealth LLC increased its holdings in Visa Inc. (NYSE:V - Free Report) by 49.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,903 shares of the credit-card processor's stock after acquiring an additional 2,632 shares during the period. Leo Wealth LLC's holdings in Visa were worth $2,799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Yeomans Consulting Group Inc. raised its position in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC raised its position in Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after purchasing an additional 29 shares in the last quarter. BankPlus Wealth Management LLC raised its position in Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock valued at $1,185,000 after purchasing an additional 29 shares in the last quarter. Wood Tarver Financial Group LLC raised its position in Visa by 11.1% during the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock valued at $105,000 after purchasing an additional 30 shares in the last quarter. Finally, Synergy Investment Management LLC raised its position in Visa by 5.3% during the first quarter. Synergy Investment Management LLC now owns 597 shares of the credit-card processor's stock valued at $209,000 after purchasing an additional 30 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 1.0%

Shares of NYSE:V opened at $343.63 on Monday. The stock's 50-day moving average price is $343.77 and its 200-day moving average price is $346.97. Visa Inc. has a 12-month low of $275.37 and a 12-month high of $375.51. The stock has a market capitalization of $629.79 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $2.42 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 presently 23.05%.

Analyst Ratings Changes

V has been the topic of a number of research reports. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Robert W. Baird set a $410.00 price target on Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Finally, Oppenheimer raised their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. 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 company's stock. According to data from MarketBeat, the company currently has a consensus 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 firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value 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. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

About Visa

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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