Moran Wealth Management LLC Purchases New Holdings in Visa Inc. $V

Key Points

• Moran Wealth Management LLC has acquired a new stake in Visa Inc., purchasing 52,827 shares valued at approximately $18.76 million during the second quarter.
• Insider transactions include significant sell-offs by both General Counsel Julie B. Rottenberg and CEO Ryan Mcinerney, reducing their ownership by 14.53% and 95.13% respectively.
• Wall Street analysts have shown a favorable outlook on Visa, with the stock receiving multiple "Buy" ratings and having a consensus price target of $389.00.

Moran Wealth Management LLC purchased a new stake in Visa Inc. (NYSE:V - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,827 shares of the credit-card processor's stock, valued at approximately $18,756,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Keystone Global Partners LLC bought a new position in Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the first quarter worth about $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the second quarter worth about $28,000. Cranbrook Wealth Management LLC lifted its position in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new position in shares of Visa during the first quarter worth about $38,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on V shares. Barclays reaffirmed an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Truist Financial reduced their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $389.00.

Visa Trading Up 1.9%

Shares of NYSE:V opened at $341.90 on Friday. The company has a market cap of $626.63 billion, a PE ratio of 33.39, a P/E/G ratio of 1.99 and a beta of 0.90. The company's 50-day moving average price is $344.30 and its 200 day moving average price is $346.83. Visa Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

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, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $2.42 EPS. Sell-side 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. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is presently 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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