Visa Inc. $V Shares Acquired by Tower View Wealth Management LLC

Key Points

• Tower View Wealth Management LLC increased its holdings in Visa Inc. by 4.6% in Q2, now owning 19,108 shares valued at approximately $6.78 million.
• Visa reported quarterly earnings of $2.98 per share, surpassing estimates and showing a 14.3% year-over-year revenue growth of $10.17 billion.
• The company announced a quarterly dividend of $0.59 per share, reflecting an annual yield of 0.7% with a dividend payout ratio of 23.05%.

Tower View Wealth Management LLC grew its position in Visa Inc. (NYSE:V - Free Report) by 4.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,108 shares of the credit-card processor's stock after acquiring an additional 838 shares during the period. Visa comprises approximately 3.5% of Tower View Wealth Management LLC's investment portfolio, making the stock its 7th biggest position. Tower View Wealth Management LLC's holdings in Visa were worth $6,784,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Yeomans Consulting Group Inc. raised its position 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 during the last quarter. Semus Wealth Partners LLC raised its position 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 during the last quarter. BankPlus Wealth Management LLC raised its position 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 during the last quarter. Kennebec Savings Bank raised its position in shares of Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after purchasing an additional 30 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in shares of Visa by 0.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock worth $1,345,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Up 1.1%

NYSE V opened at $349.90 on Monday. The firm's 50-day moving average is $343.78 and its two-hundred day moving average is $346.81. The stock has a market capitalization of $641.28 billion, a P/E ratio of 34.17, a PEG ratio of 2.07 and a beta of 0.90. Visa Inc. has a 12 month low of $273.24 and a 12 month 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.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $2.42 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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 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%.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's 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 completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction 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. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Erste Group Bank cut Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Visa in a report on Saturday, September 27th. One research 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

About Visa

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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