Abound Wealth Management Increases Stake in Visa Inc. (NYSE:V)

Abound Wealth Management increased its position in shares of Visa Inc. (NYSE:V) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 843 shares of the credit-card processor’s stock after purchasing an additional 65 shares during the period. Abound Wealth Management’s holdings in Visa were worth $221,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in V. Livelsberger Financial Advisory bought a new stake in shares of Visa during the fourth quarter worth $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the first quarter valued at approximately $25,000. POM Investment Strategies LLC grew its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in Visa during the 4th quarter valued at $33,000. Finally, TruNorth Capital Management LLC lifted its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.19% of the company’s stock.

Visa Price Performance

NYSE:V opened at $287.35 on Monday. The firm’s fifty day moving average is $268.29 and its two-hundred day moving average is $273.16. The firm has a market cap of $523.64 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 2.01 and a beta of 0.96. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.16 earnings per share. Research analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Analyst Ratings Changes

V has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group lowered their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Compass Point initiated coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $309.81.

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.