Signal Advisors Wealth LLC Has $9.87 Million Stock Position in Visa Inc. $V

Key Points

• Signal Advisors Wealth LLC increased its stake in Visa by 30.0%, now holding 27,806 shares valued at approximately $9.87 million as of the 2nd quarter.
• Several analysts have raised their price targets for Visa, with Morgan Stanley increasing theirs from $386 to $402, while Macquarie upped their target from $380 to $425.
• Visa reported EPS of $2.98 for the last quarter, exceeding analyst expectations and marking a 14.3% revenue increase year-over-year.

Signal Advisors Wealth LLC boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 30.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,806 shares of the credit-card processor's stock after acquiring an additional 6,423 shares during the quarter. Signal Advisors Wealth LLC's holdings in Visa were worth $9,872,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in V. Keystone Global Partners LLC bought a new stake in Visa during the 1st quarter worth about $26,000. von Borstel & Associates Inc. bought a new stake in Visa during the 1st quarter worth about $27,000. 1 North Wealth Services LLC bought a new position in Visa in the first quarter valued at about $38,000. Anderson Financial Strategies LLC acquired a new stake in Visa in the first quarter worth about $53,000. Finally, O Brien Wealth Partners LLC acquired a new stake in Visa in the first quarter worth about $54,000. Institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on V shares. Citigroup started coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. 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. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Finally, Macquarie raised their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Visa Stock Down 2.2%

Shares of NYSE:V traded down $7.75 during trading on Thursday, hitting $338.45. 7,518,650 shares of the company's stock traded hands, compared to its average volume of 4,913,677. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $620.32 billion, a price-to-earnings ratio of 33.05, a price-to-earnings-growth ratio of 2.30 and a beta of 0.92. The company has a 50-day moving average price of $345.81 and a 200-day moving average price of $346.47.

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. The firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business'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 EPS. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid 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 presently 23.05%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business'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 sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

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.