Wealthcare Advisory Partners LLC Increases Position in Visa Inc. $V

Key Points

• Wealthcare Advisory Partners LLC increased its stake in Visa Inc. by 2.8%, acquiring an additional 1,038 shares worth approximately $13.35 million during the second quarter.
• Visa reported $2.98 EPS for the last quarter, surpassing the consensus estimate of $2.85 and showing a 14.3% revenue increase year-over-year.
• A number of analysts have raised their price targets for Visa, with Macquarie setting a new objective of $425.00 and maintaining an "outperform" rating.

Wealthcare Advisory Partners LLC raised its position in Visa Inc. (NYSE:V - Free Report) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,601 shares of the credit-card processor's stock after purchasing an additional 1,038 shares during the quarter. Wealthcare Advisory Partners LLC's holdings in Visa were worth $13,350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the period. Northern Trust Corp increased its position in shares of Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after acquiring an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Visa by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after acquiring an additional 434,217 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE:V opened at $351.96 on Wednesday. The firm has a market capitalization of $645.06 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90. The business's fifty day moving average price is $343.65 and its 200 day moving average price is $346.93. 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 Inc. has a 12 month low of $274.01 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction 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 in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction 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 $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on V shares. Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Oppenheimer upped their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Robert W. Baird set a $410.00 price objective on Visa and gave the stock an "outperform" rating in a research report on Monday. Barclays reaffirmed an "overweight" rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Raymond James Financial reissued an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. One 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $389.00.

Visa Profile

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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