Greenwich Wealth Management LLC Has $331,000 Holdings in Visa Inc. (NYSE:V)

Greenwich Wealth Management LLC decreased its position in Visa Inc. (NYSE:V) by 12.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,261 shares of the credit-card processor’s stock after selling 184 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Visa were worth $331,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Abound Wealth Management raised its holdings in Visa by 8.4% during the second quarter. Abound Wealth Management now owns 843 shares of the credit-card processor’s stock worth $221,000 after acquiring an additional 65 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in shares of Visa in the 2nd quarter valued at approximately $4,041,000. Brown Brothers Harriman & Co. grew its stake in shares of Visa by 4.6% in the second quarter. Brown Brothers Harriman & Co. now owns 81,315 shares of the credit-card processor’s stock valued at $21,343,000 after buying an additional 3,595 shares in the last quarter. Quilter Plc increased its holdings in Visa by 2.8% during the second quarter. Quilter Plc now owns 718,706 shares of the credit-card processor’s stock worth $188,639,000 after buying an additional 19,479 shares during the last quarter. Finally, Rathbones Group PLC raised its position in Visa by 3.3% during the second quarter. Rathbones Group PLC now owns 3,333,932 shares of the credit-card processor’s stock worth $875,057,000 after acquiring an additional 107,523 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by insiders.

Visa Trading Up 0.7 %

NYSE V opened at $287.35 on Monday. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The business’s fifty day moving average is $268.29 and its 200 day moving average is $273.16. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $523.64 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on V shares. Evercore ISI lowered their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Jefferies Financial Group decreased their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. Finally, The Goldman Sachs Group restated a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $309.81.

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.