Visa Inc. (NYSE:V) Shares Purchased by Capital Wealth Planning LLC

Capital Wealth Planning LLC lifted its position in Visa Inc. (NYSE:V) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,809,136 shares of the credit-card processor’s stock after purchasing an additional 29,771 shares during the period. Visa comprises about 5.0% of Capital Wealth Planning LLC’s portfolio, making the stock its 8th biggest holding. Capital Wealth Planning LLC’s holdings in Visa were worth $474,844,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Westend Capital Management LLC acquired a new position in Visa during the first quarter worth $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Visa during the fourth quarter worth $25,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% during the second 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 in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Macquarie reaffirmed an “outperform” rating and set a $300.00 target price on shares of Visa in a report on Wednesday, July 24th. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Morgan Stanley dropped their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Compass Point started coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. Finally, Bank of America reissued a “neutral” rating and issued a $297.00 price objective (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $309.81.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Visa Stock Up 0.7 %

Shares of V opened at $287.35 on Monday. The stock has a market capitalization of $523.64 billion, a PE ratio of 32.11, a P/E/G ratio of 2.01 and a beta of 0.96. Visa Inc. has a 1 year low of $227.78 and a 1 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. The company’s 50-day simple moving average is $268.29 and its 200-day simple moving average is $273.16.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 earnings per share. Analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

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

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.