Visa Inc. $V Shares Purchased by Smith Salley Wealth Management

Key Points

• Smith Salley Wealth Management increased its stake in Visa Inc. by 3.0% during the second quarter, now holding 115,053 shares valued at approximately $40.85 million.
• Visa stock received positive attention from multiple brokerages with several price target increases, including a new target of $425.00 from Mizuho and reaffirmed “buy” ratings from various firms.
• The company reported earnings of $2.98 per share, surpassing expectations, with a net revenue of $10.17 billion, reflecting a 14.3% year-over-year increase.

Smith Salley Wealth Management grew its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,053 shares of the credit-card processor's stock after acquiring an additional 3,371 shares during the period. Visa accounts for approximately 2.4% of Smith Salley Wealth Management's investment portfolio, making the stock its 9th biggest holding. Smith Salley Wealth Management's holdings in Visa were worth $40,850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Keystone Global Partners LLC bought a new position in shares of Visa during the 1st quarter worth about $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the 1st quarter worth about $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter worth about $28,000. Cranbrook Wealth Management LLC boosted its position in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC bought a new position in shares of Visa during the 1st quarter worth about $38,000. Institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on V. UBS Group reaffirmed a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley raised their price target on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Visa Trading Up 0.3%

Shares of V stock opened at $341.34 on Wednesday. The company has a 50 day moving average of $344.23 and a 200-day moving average of $346.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $273.24 and a 12-month high of $375.51. The firm has a market cap of $625.61 billion, a P/E ratio of 33.33, a PEG ratio of 2.26 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the business earned $2.42 EPS. Visa's 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 year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. 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 payout ratio is 23.05%.

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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