Modern Wealth Management LLC Has $4.29 Million Holdings in Visa Inc. $V

Key Points

• Modern Wealth Management LLC increased its holdings in Visa Inc. by 45.9% to a total valuation of $4.29 million during the first quarter, owning 12,234 shares after acquiring an additional 3,846 shares.
• Visa's CEO Ryan Mcinerney sold 8,630 shares of the company for approximately $3.05 million, significantly reducing his ownership by 94.14%.
• Analysts have a Moderate Buy average rating on Visa, with price targets from various firms ranging between $385.96 and $425.00, with the latest earnings report showing a 14.3% increase in revenue year-over-year.

Modern Wealth Management LLC lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 45.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,234 shares of the credit-card processor's stock after buying an additional 3,846 shares during the quarter. Modern Wealth Management LLC's holdings in Visa were worth $4,287,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of V. Yeomans Consulting Group Inc. raised its position in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares during the last quarter. Semus Wealth Partners LLC increased its holdings in Visa by 0.8% in 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 during the last quarter. Headinvest LLC lifted its stake in Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after buying an additional 30 shares during the period. Kennebec Savings Bank boosted its holdings in Visa by 0.9% during the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after buying an additional 30 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in shares of Visa by 0.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock worth $1,345,000 after buying an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of Visa 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 sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade 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 insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on V. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. 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. Macquarie raised their price objective on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group began coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. Finally, UBS Group restated a "buy" rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average target price of $385.96.

Visa Stock Performance

Shares of Visa stock opened at $339.33 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $621.92 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92. The stock's 50-day moving average is $347.03 and its 200-day moving average is $346.94. Visa Inc. has a one year low of $268.23 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.42 EPS. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal 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 given a $0.59 dividend. The ex-dividend date of this dividend 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 (DPR) is 23.05%.

Visa Company 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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