Visa Inc. $V Shares Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. increased its position in shares of Visa Inc. (NYSE:V) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,808 shares of the credit-card processor’s stock after purchasing an additional 58 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Visa were worth $7,388,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Visa by 4.7% during the first quarter. Wedge Capital Management L L P NC now owns 2,562 shares of the credit-card processor’s stock valued at $898,000 after acquiring an additional 116 shares in the last quarter. GAMMA Investing LLC raised its position in Visa by 9.9% during the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock valued at $14,761,000 after acquiring an additional 3,795 shares in the last quarter. Finally, Donaldson Capital Management LLC raised its position in Visa by 1.6% during the first quarter. Donaldson Capital Management LLC now owns 38,541 shares of the credit-card processor’s stock valued at $13,507,000 after acquiring an additional 610 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 1.3%

Visa stock opened at $346.66 on Friday. The stock has a market capitalization of $635.36 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.90. Visa Inc. has a 12 month low of $275.35 and a 12 month high of $375.51. The business has a 50 day simple moving average of $343.68 and a 200-day simple moving average of $346.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

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

Visa Dividend Announcement

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

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% 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 insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on V. UBS Group reiterated a “buy” rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Barclays reiterated an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Morgan Stanley lifted their price target on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

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.