Ritholtz Wealth Management Has $23.18 Million Holdings in Visa Inc. $V

Key Points

• Ritholtz Wealth Management has increased its holdings in Visa Inc. by 6.5%, now owning 65,286 shares valued at $23.18 million, making it Visa's 28th largest shareholder.
• Recent insider trading activity includes CEO Ryan Mcinerney selling 10,485 shares at an average price of $342.30, representing a 95.13% decrease in his position.
• Analysts have a consensus rating of "Moderate Buy" for Visa, with a projected average price target of $389.00 per share.

Ritholtz Wealth Management boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 6.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,286 shares of the credit-card processor's stock after acquiring an additional 3,991 shares during the quarter. Visa accounts for about 0.5% of Ritholtz Wealth Management's investment portfolio, making the stock its 28th largest holding. Ritholtz Wealth Management's holdings in Visa were worth $23,180,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Yeomans Consulting Group Inc. raised its stake 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 worth $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC raised its stake in shares of Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares in the last quarter. BankPlus Wealth Management LLC raised its stake in shares of Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock worth $1,185,000 after purchasing an additional 29 shares in the last quarter. Transcendent Capital Group LLC raised its stake in shares of Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares in the last quarter. Finally, Wood Tarver Financial Group LLC raised its stake in shares of Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock worth $105,000 after purchasing an additional 30 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, 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 sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on V shares. Barclays reaffirmed an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Oppenheimer raised their price target 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 cut their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Robert W. Baird set a $410.00 price objective on Visa and gave the company an "outperform" rating in a research note on Monday, October 6th. Finally, UBS Group reissued a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $389.00.

Visa Stock Performance

Shares of NYSE V opened at $341.90 on Friday. 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 business's 50 day moving average is $344.30 and its two-hundred day moving average is $346.83. The company has a market cap of $626.63 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.02 and a beta of 0.90. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS 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 company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.42 EPS. On average, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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