Visa Inc. $V Shares Acquired by Sax Wealth Advisors LLC

Key Points

• Sax Wealth Advisors LLC increased its stake in Visa Inc. by 130.3% in the second quarter, now owning 5,752 shares valued at approximately $2,042,000.
• Visa recently achieved quarterly earnings of $2.98 per share, surpassing estimates and reporting a 14.3% increase in revenue compared to the previous year.
• General Counsel Julie B. Rottenberg and CEO Ryan Mcinerney both sold significant portions of their Visa stock, indicating changes in insider ownership.

Sax Wealth Advisors LLC raised its stake in Visa Inc. (NYSE:V - Free Report) by 130.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,752 shares of the credit-card processor's stock after acquiring an additional 3,254 shares during the period. Sax Wealth Advisors LLC's holdings in Visa were worth $2,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Keystone Global Partners LLC acquired a new position in Visa in the first quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the first quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa during the second quarter valued at approximately $28,000. Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after buying an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in shares of Visa during the first quarter valued at approximately $38,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird set a $410.00 price target on Visa and gave the company an "outperform" rating in a report on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Oppenheimer lifted their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, Truist Financial dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $389.00.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $3,589,015.50. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Visa Trading Down 1.0%

Visa stock opened at $343.63 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $629.79 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. Visa Inc. has a 1 year low of $275.37 and a 1 year high of $375.51. The firm's 50 day moving average price is $343.77 and its two-hundred day moving average price is $346.97.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.42 earnings per share. On average, research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio 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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