LifeWealth Investments LLC Boosts Stake in Visa Inc. $V

LifeWealth Investments LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 30.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,733 shares of the credit-card processor’s stock after buying an additional 634 shares during the period. LifeWealth Investments LLC’s holdings in Visa were worth $970,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of V. Keystone Global Partners LLC purchased a new stake in Visa during the first quarter worth $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa during the 2nd quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC lifted its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on V. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Morgan Stanley increased their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Truist Financial decreased their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, UBS Group reiterated a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $392.75.

Visa Price Performance

NYSE V opened at $347.34 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s fifty day moving average price is $344.79 and its 200 day moving average price is $347.60. Visa Inc. has a 1 year low of $280.78 and a 1 year high of $375.51. The company has a market cap of $636.60 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 2.05 and a beta of 0.90.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given 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 currently 23.05%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $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.

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.