Wealthcare Advisory Partners LLC Decreases Stock Position in Visa Inc. $V

Key Points

• Wealthcare Advisory Partners cut its Visa stake by 31.1% in the second quarter, selling 12,579 shares and retaining 27,851 shares valued at approximately $9.6 million. Institutional investors collectively own 82.15% of Visa.
• Analysts remain bullish on Visa, with an average rating of “Buy” and an average price target of $413.58. Several firms recently raised their targets, including JPMorgan to $450.
• Visa exceeded quarterly earnings and revenue estimates, reporting $3.32 in EPS and $11.63 billion in revenue, while revenue grew 14.4% year over year. The company also declared a $0.67 quarterly dividend and maintains a $20 billion share-repurchase authorization.

Wealthcare Advisory Partners LLC lessened its stake in shares of Visa Inc. (NYSE:V - Free Report) by 31.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,851 shares of the credit-card processor's stock after selling 12,579 shares during the period. Wealthcare Advisory Partners LLC's holdings in Visa were worth $9,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in V. Paladin Wealth LLC grew its holdings in shares of Visa by 9.3% in the second quarter. Paladin Wealth LLC now owns 3,398 shares of the credit-card processor's stock valued at $1,166,000 after purchasing an additional 288 shares in the last quarter. Defender Capital LLC. purchased a new stake in Visa during the second quarter valued at $213,000. Shrier Wealth Management LLC raised its stake in Visa by 2.9% during the second quarter. Shrier Wealth Management LLC now owns 1,126 shares of the credit-card processor's stock valued at $386,000 after purchasing an additional 32 shares in the last quarter. Vista Investment Partners LLC lifted its position in Visa by 401.2% during the second quarter. Vista Investment Partners LLC now owns 18,343 shares of the credit-card processor's stock valued at $6,293,000 after purchasing an additional 14,683 shares during the last quarter. Finally, Matrix Trust Co lifted its position in Visa by 17.3% during the second quarter. Matrix Trust Co now owns 2,406 shares of the credit-card processor's stock valued at $825,000 after purchasing an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Ratings Changes

V has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Visa from $400.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Raymond James Financial reaffirmed an "outperform" rating and issued a $406.00 price target on shares of Visa in a report on Wednesday, July 29th. Robert W. Baird lifted their price target on Visa from $412.00 to $420.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Wolfe Research reissued an "outperform" rating and set a $435.00 price objective (up from $430.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Piper Sandler restated an "overweight" rating and set a $430.00 price objective (up from $394.00) on shares of Visa in a research report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company's stock. According to data from MarketBeat, Visa presently has an average rating of "Buy" and an average price target of $413.58.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares of the company's stock, valued at $6,625,440. This represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the completion of the sale, the insider owned 49,662 shares in the company, valued at approximately $18,125,140.14. The trade was a 53.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 90,759 shares of company stock valued at $32,375,779. Insiders own 0.12% of the company's stock.

Visa Stock Performance

Visa stock opened at $360.67 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $373.97. The firm has a market capitalization of $643.59 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 1.94 and a beta of 0.74. The company's 50-day moving average is $345.87 and its 200 day moving average is $327.28.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter last year, the firm earned $2.98 earnings per share. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 13.14 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa's dividend payout ratio (DPR) is currently 22.79%.

Visa declared that its board has approved a share buyback program on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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