Soltis Investment Advisors LLC Acquires 1,135 Shares of Visa Inc. $V

Soltis Investment Advisors LLC boosted its holdings in Visa Inc. (NYSE:V) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,745 shares of the credit-card processor’s stock after acquiring an additional 1,135 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Visa were worth $6,655,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of V. Nuveen LLC bought a new position in shares of Visa in the first quarter worth approximately $3,518,533,000. Vanguard Group Inc. raised its position in shares of Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in Visa in the first quarter worth $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on V. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. UBS Group set a $425.00 price target on shares of Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Macquarie reduced their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Performance

Shares of Visa stock opened at $335.91 on Friday. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The firm has a market capitalization of $615.66 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.04 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $343.52 and a two-hundred day simple moving average of $348.62.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the business earned $2.71 EPS. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is presently 23.11%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,897 shares of company stock worth $8,164,561 in the last 90 days. Insiders own 0.13% of the company’s stock.

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.