WealthPlan Investment Management LLC Buys 3,151 Shares of Visa Inc. $V

Key Points

• WealthPlan Investment Management LLC increased its stake in Visa Inc. by 280.3%, acquiring an additional 3,151 shares, bringing its total holdings to 4,275 shares valued at approximately $1.5 million.
• Insiders at Visa have been selling shares, including General Counsel Julie B. Rottenberg, who reduced her position by 14.53%, and CEO Ryan McIanery, who sold 10,485 shares, resulting in a 95.13% decrease in his holdings.
• Visa's recent financial results showed an earnings per share of $2.98, surpassing analysts' expectations and revealing a 14.3% increase in revenue year-over-year.

WealthPlan Investment Management LLC lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 280.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,275 shares of the credit-card processor's stock after acquiring an additional 3,151 shares during the period. WealthPlan Investment Management LLC's holdings in Visa were worth $1,518,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC purchased a new position in Visa in the 1st quarter worth $3,518,533,000. Vanguard Group Inc. raised its position in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares during the period. Wellington Management Group LLP raised its position in Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the period. MUFG Securities EMEA plc purchased a new position in Visa in the 1st quarter worth $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Visa by 7.2% in the 1st 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 purchasing an additional 955,392 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Visa Trading Up 1.9%

Shares of V opened at $341.90 on Monday. The firm's 50-day moving average price is $344.30 and its 200-day moving average price is $346.89. The firm has a market capitalization of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.03 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its earnings results 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. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.42 EPS. Sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Oppenheimer lifted their target price on shares of 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 shares of Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Barclays restated an "overweight" rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Finally, Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $389.00.

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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