Blodgett Wealth Advisors LLC Sells 200 Shares of Visa Inc. $V

Blodgett Wealth Advisors LLC trimmed its stake in Visa Inc. (NYSE:V) by 9.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,835 shares of the credit-card processor’s stock after selling 200 shares during the period. Blodgett Wealth Advisors LLC’s holdings in Visa were worth $652,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Financiere des Professionnels Fonds d investissement inc. raised its position in shares of Visa by 2.9% in the 2nd quarter. Financiere des Professionnels Fonds d investissement inc. now owns 56,050 shares of the credit-card processor’s stock worth $19,901,000 after acquiring an additional 1,585 shares in the last quarter. Divergent Planning LLC raised its position in shares of Visa by 1,142.1% in the 2nd quarter. Divergent Planning LLC now owns 20,693 shares of the credit-card processor’s stock worth $7,347,000 after acquiring an additional 19,027 shares in the last quarter. Breakwater Capital Group raised its position in shares of Visa by 0.8% in the 2nd quarter. Breakwater Capital Group now owns 5,309 shares of the credit-card processor’s stock worth $1,885,000 after acquiring an additional 41 shares in the last quarter. Balefire LLC raised its position in shares of Visa by 120.5% in the 2nd quarter. Balefire LLC now owns 4,340 shares of the credit-card processor’s stock worth $1,541,000 after acquiring an additional 2,372 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC raised its position in shares of Visa by 1.5% in the 2nd quarter. Inspirion Wealth Advisors LLC now owns 3,203 shares of the credit-card processor’s stock worth $1,137,000 after acquiring an additional 46 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 0.3%

Visa stock opened at $339.92 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day simple moving average is $346.38 and its two-hundred day simple moving average is $346.64. The company has a market cap of $623.00 billion, a PE ratio of 33.20, a PEG ratio of 2.26 and a beta of 0.92. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.42 EPS. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. UBS Group restated a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer boosted their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $385.96.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

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.