Retirement Planning Group LLC Raises Position in Visa Inc. $V

Key Points

• Retirement Planning Group LLC increased its holdings in Visa Inc. by 36.3% during the 2nd quarter, owning a total of 4,497 shares valued at $1,597,000.
• Visa's recent quarterly earnings beat expectations, reporting $2.98 earnings per share on revenue of $10.17 billion, reflecting a 14.3% year-over-year revenue increase.
• Several institutional investors, including Vanguard Group and Northern Trust Corp, have also significantly increased their positions in Visa, contributing to a total institutional ownership of 82.15% of the company's stock.

Retirement Planning Group LLC grew its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 36.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,497 shares of the credit-card processor's stock after purchasing an additional 1,198 shares during the period. Retirement Planning Group LLC's holdings in Visa were worth $1,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares during the period. Northern Trust Corp increased its position in shares of Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after acquiring an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after acquiring an additional 955,392 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock valued at $4,442,157,000 after acquiring an additional 434,217 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Transactions at Visa

In other 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 transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% 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, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents 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.

Visa Price Performance

Shares of V opened at $345.82 on Friday. The business's 50-day moving average is $344.73 and its two-hundred day moving average is $347.33. The company has a market capitalization of $633.81 billion, a P/E ratio of 33.77, a P/E/G ratio of 2.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51.

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, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $2.42 EPS. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on V. Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Macquarie upped their target price on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus price target of $392.75.

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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