Visa Inc. $V Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its holdings in Visa Inc. (NYSE:V - Free Report) by 2.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,664 shares of the credit-card processor's stock after selling 1,289 shares during the period. Visa makes up 1.8% of Marks Group Wealth Management Inc's holdings, making the stock its 6th biggest holding. Marks Group Wealth Management Inc's holdings in Visa were worth $19,764,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in V. Yeomans Consulting Group Inc. grew its stake 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 period. Semus Wealth Partners LLC grew its stake 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 period. BankPlus Wealth Management LLC grew its stake 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 period. Capital Advisors Ltd. LLC grew its stake 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 period. Finally, Wood Tarver Financial Group LLC grew its stake in shares of Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock worth $105,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the company an "outperform" rating in a research note on Monday. Truist Financial lowered their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Barclays reissued an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Erste Group Bank cut shares of Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $389.00.

Visa Trading Down 0.3%

Shares of V opened at $351.31 on Thursday. Visa Inc. has a fifty-two week low of $274.42 and a fifty-two week high of $375.51. The company has a market capitalization of $643.88 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 2.09 and a beta of 0.90. The stock has a fifty day moving average of $343.66 and a two-hundred day moving average of $346.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the firm posted $2.42 earnings per share. The business's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were 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 of the company's stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred 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 represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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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