Precision Wealth Strategies LLC Invests $2.69 Million in Visa Inc. $V

Precision Wealth Strategies LLC bought a new stake in Visa Inc. (NYSE:V - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,573 shares of the credit-card processor's stock, valued at approximately $2,689,000.

A number of other large investors have also added to or reduced their stakes in V. Keystone Global Partners LLC purchased a new stake in shares of Visa during the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC acquired a new position in Visa during the 2nd quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new stake in Visa in the first quarter valued at about $27,000. Cranbrook Wealth Management LLC boosted its holdings in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC grew its stake in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock worth $38,000 after acquiring an additional 49 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on V. Barclays reaffirmed an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Morgan Stanley upped their price target on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research report on Saturday, September 27th. Finally, Truist Financial reduced their target price 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 research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and a consensus target price of $385.96.

Insiders Place Their Bets

In other news, 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 transaction of $697,328.54. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Stock Performance

Shares of V stock opened at $349.90 on Friday. Visa Inc. has a 52-week low of $273.24 and a 52-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. The stock has a market cap 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 business has a 50-day simple moving average of $343.78 and a 200-day simple moving average of $346.75.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results 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. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the business earned $2.42 earnings per share. Visa's quarterly revenue was up 14.3% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company 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. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is currently 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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