SteelPeak Wealth LLC decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 17.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,111 shares of the credit-card processor's stock after selling 4,389 shares during the quarter. SteelPeak Wealth LLC's holdings in Visa were worth $7,140,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Yeomans Consulting Group Inc. grew its holdings in shares of Visa by 2.9% during the first 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 during the last quarter. Semus Wealth Partners LLC boosted its holdings 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 acquiring an additional 29 shares during the last quarter. BankPlus Wealth Management LLC boosted its holdings 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 acquiring an additional 29 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Visa by 0.8% in the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock valued at $1,345,000 after acquiring an additional 30 shares during the last quarter. Finally, Wood Tarver Financial Group LLC boosted its holdings 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 acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
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 directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% 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.
Analyst Ratings Changes
V has been the topic of several analyst reports. Truist Financial reduced their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Macquarie increased their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a report on Wednesday. Barclays restated an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Robert W. Baird set a $410.00 price target on Visa and gave the stock an "outperform" rating in a report on Monday. 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's stock. According to data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average target price of $389.00.
Check Out Our Latest Analysis on V
Visa Price Performance
Shares of V opened at $346.66 on Friday. Visa Inc. has a 12-month low of $275.35 and a 12-month high of $375.51. The business's fifty day moving average is $343.68 and its 200 day moving average is $346.98. 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 $635.36 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.08 and a beta of 0.90.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (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 company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the business earned $2.42 EPS. Visa's quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Dividend Announcement
The company also recently announced 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 was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is currently 23.05%.
About Visa
(
Free Report)
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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