WealthPLAN Partners LLC Raises Position in Visa Inc. (NYSE:V)

WealthPLAN Partners LLC lifted its position in Visa Inc. (NYSE:V) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,183 shares of the credit-card processor’s stock after buying an additional 254 shares during the period. WealthPLAN Partners LLC’s holdings in Visa were worth $3,723,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Alaethes Wealth LLC grew its position in shares of Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 37 shares in the last quarter. Jessup Wealth Management Inc grew its holdings in Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after buying an additional 37 shares in the last quarter. Long Run Wealth Advisors LLC raised its position in shares of Visa by 2.5% during the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after buying an additional 37 shares during the last quarter. Cordatus Wealth Management LLC lifted its holdings in shares of Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after buying an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC boosted its position in shares of Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on 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 transaction, 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 can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on V shares. TD Cowen reduced their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Finally, Morgan Stanley lowered their target price on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.81.

Visa Stock Performance

Shares of Visa stock opened at $290.52 on Tuesday. 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 stock’s fifty day moving average is $268.78 and its two-hundred day moving average is $273.21. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company has a market capitalization of $529.42 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96.

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

Visa Dividend Announcement

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

Visa Company 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.