Sagespring Wealth Partners LLC Buys 2,741 Shares of Visa Inc. $V

Key Points

• Sagespring Wealth Partners LLC increased its stake in Visa Inc. by 7.5%, acquiring an additional 2,741 shares, which brought its total holdings to 39,364 shares valued at approximately $13.98 million.
• Analysts have mixed ratings on Visa, with one rating it as a Strong Buy, while the average rating stands at Moderate Buy with a consensus price target of $389.00.
• Visa recently announced a quarterly dividend of $0.59 per share, with an annualized yield of 0.7% and a dividend payout ratio of 23.05%.

Sagespring Wealth Partners LLC increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 7.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,364 shares of the credit-card processor's stock after acquiring an additional 2,741 shares during the period. Sagespring Wealth Partners LLC's holdings in Visa were worth $13,976,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Yeomans Consulting Group Inc. raised its stake in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after buying an additional 29 shares during the period. Semus Wealth Partners LLC raised its stake in Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after buying an additional 29 shares during the period. BankPlus Wealth Management LLC raised its stake in Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock valued at $1,185,000 after buying an additional 29 shares during the period. Transcendent Capital Group LLC raised its stake in Visa by 2.9% in the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor's stock valued at $360,000 after buying an additional 29 shares during the period. Finally, Wood Tarver Financial Group LLC raised its stake in Visa by 11.1% in the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock valued at $105,000 after buying an additional 30 shares during the period. Institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. Truist Financial lowered their target price 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 target price on Visa and gave the stock an "outperform" rating in a research note on Monday, October 6th. Morgan Stanley increased their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Erste Group Bank lowered Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $389.00.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's 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 transaction, 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 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 the firm's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Price Performance

Visa stock opened at $341.90 on Friday. The stock's fifty day moving average price is $344.30 and its two-hundred day moving average price is $346.83. Visa Inc. has a one year low of $280.78 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $626.63 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data 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. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the company earned $2.42 EPS. The company's revenue was up 14.3% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed 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. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 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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