Northwestern Mutual Wealth Management Co. Acquires 32,645 Shares of Visa Inc. $V

Northwestern Mutual Wealth Management Co. grew its stake in shares of Visa Inc. (NYSE:V) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 611,908 shares of the credit-card processor’s stock after buying an additional 32,645 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Visa were worth $209,939,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in V. G&S Capital LLC raised its position in shares of Visa by 4.0% during the 2nd quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock valued at $261,000 after buying an additional 29 shares in the last quarter. Keating Financial Advisory Services Inc. grew its position in Visa by 0.9% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 3,189 shares of the credit-card processor’s stock worth $1,094,000 after acquiring an additional 29 shares during the last quarter. NerdWallet Wealth Partners LLC grew its holdings in shares of Visa by 4.5% in the second quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock worth $239,000 after purchasing an additional 30 shares during the last quarter. Frederick Financial Consultants LLC grew its holdings in Visa by 2.0% in the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after acquiring an additional 31 shares during the last quarter. Finally, Kuhn & Co Investment Counsel raised its stake in shares of Visa by 0.5% during the fourth quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock valued at $2,138,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 1.5%

Visa stock opened at $371.09 on Friday. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $373.97. The company has a market cap of $662.18 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.99 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The business has a 50-day simple moving average of $353.73 and a two-hundred day simple moving average of $329.64.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period last year, the firm earned $2.98 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Analysts predict that Visa Inc. will post 13.16 EPS for the current year.

Visa announced that its board has initiated a share buyback program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be paid a dividend of $0.67 per share. The ex-dividend date is Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s payout ratio is 22.79%.

Insiders Place Their Bets

In other news, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the completion of the sale, the insider directly owned 49,662 shares of the company’s stock, valued at $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $6,625,440. This represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 90,759 shares of company stock worth $32,375,779 over the last three months. 0.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on V shares. Susquehanna reissued a “positive” rating and issued a $427.00 target price (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Piper Sandler reiterated an “overweight” rating and set a $430.00 target price (up from $394.00) on shares of Visa in a report on Wednesday, July 29th. Raymond James Financial reissued an “outperform” rating and set a $406.00 price target on shares of Visa in a research report on Wednesday, July 29th. TD Cowen reiterated a “buy” rating on shares of Visa in a research note on Wednesday, July 29th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Buy” and a consensus target price of $413.58.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.