Perfromance Wealth Partners LLC Has $20.06 Million Position in Visa Inc. $V

Key Points

• Perfromance Wealth Partners LLC has increased its stake in Visa Inc. by 1.4%, now holding approximately $20.06 million worth of the stock, which is about 0.6% of their investment portfolio.
• Visa reported Q2 earnings exceeding expectations with an EPS of $2.98 and revenue of $10.17 billion, leading to a year-over-year revenue growth of 14.3%.
• The company recently declared a quarterly dividend of $0.59, resulting in an annual dividend yield of 0.7%, with a payout ratio of 23.05%.

Perfromance Wealth Partners LLC grew its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,499 shares of the credit-card processor's stock after acquiring an additional 761 shares during the period. Visa accounts for approximately 0.6% of Perfromance Wealth Partners LLC's investment portfolio, making the stock its 20th biggest holding. Perfromance Wealth Partners LLC's holdings in Visa were worth $20,060,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Keystone Global Partners LLC acquired a new stake in Visa during the 1st quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the 2nd quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the 1st quarter valued at about $27,000. Cranbrook Wealth Management LLC grew its stake 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 buying an additional 41 shares during the period. Finally, Westend Capital Management LLC grew its stake in shares of Visa by 83.1% in the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after buying an additional 49 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Visa stock opened at $341.90 on Friday. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The company's 50 day moving average price is $344.30 and its two-hundred day moving average price is $346.83. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $626.63 billion, a P/E ratio of 33.39, a P/E/G ratio of 1.99 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 52.16% and a return on equity of 58.93%. Visa's revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 EPS. On average, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on V shares. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Barclays restated an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $389.00.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred 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 completion of the sale, 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. Insiders own 0.13% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.