Wedmont Private Capital Raises Stock Holdings in Visa Inc. $V

Key Points

• Wedmont Private Capital increased its Visa holdings by 30.5% in the second quarter, ending with 34,628 shares valued at approximately $12.1 million. Institutional investors collectively own 82.15% of Visa.
• Visa reported quarterly earnings of $3.32 per share on $11.63 billion in revenue, exceeding analyst expectations, while revenue increased 14.4% year over year.
• Analysts remain bullish, with Visa receiving a consensus “Buy” rating and an average price target of $416.62. The company also paid a quarterly dividend of $0.67 per share, representing a 0.7% yield.

Wedmont Private Capital lifted its holdings in Visa Inc. (NYSE:V - Free Report) by 30.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,628 shares of the credit-card processor's stock after purchasing an additional 8,094 shares during the quarter. Wedmont Private Capital's holdings in Visa were worth $12,084,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC raised its holdings in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. lifted its position in Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock worth $3,834,000 after buying an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY boosted its stake in Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock worth $402,000 after buying an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. boosted its stake in Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor's stock worth $6,521,000 after buying an additional 2,230 shares during the period. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In other news, General Counsel Julie Rottenberg sold 2,028 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the transaction, the general counsel owned 18,404 shares in the company, valued at approximately $7,018,365.40. This trade represents a 9.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of Visa stock in a transaction dated Thursday, July 30th. The shares were 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 of the company's stock, valued at $18,125,140.14. The trade was a 53.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 104,537 shares of company stock valued at $37,540,837 in the last ninety days. Corporate insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on V. Wells Fargo & Company reissued an "overweight" rating and issued a $432.00 target price (up from $412.00) on shares of Visa in a research note on Thursday, July 30th. Clear Str upgraded shares of Visa to a "strong-buy" rating in a report on Thursday, July 16th. Royal Bank Of Canada reissued an "outperform" rating and issued a $466.00 price objective (up from $412.00) on shares of Visa in a research report on Monday, August 31st. UBS Group reaffirmed a "buy" rating and set a $420.00 target price (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $416.00 price target on shares of Visa in a report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the stock. According to data from MarketBeat, Visa has an average rating of "Buy" and a consensus price target of $416.62.

Visa Trading Down 0.2%

Shares of V opened at $374.46 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $668.20 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.01 and a beta of 0.76. The company has a 50-day moving average of $363.63 and a 200 day moving average of $333.40. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $385.57.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.09. The business had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The company's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company posted $2.98 earnings per share. On average, research analysts expect that Visa Inc. will post 13.16 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 11th. Visa's dividend payout ratio (DPR) is presently 22.79%.

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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