Wealthcare Advisory Partners LLC Sells 12,579 Shares of Visa Inc. $V

Wealthcare Advisory Partners LLC decreased its position in Visa Inc. (NYSE:V) by 31.1% in the second quarter, Holdings Channel reports. The firm owned 27,851 shares of the credit-card processor’s stock after selling 12,579 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Visa were worth $9,555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Invariant Investment Management bought a new position in shares of Visa during the 4th quarter worth approximately $969,000. Nixon Peabody Trust Co. boosted its stake in Visa by 58.1% in the first quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock valued at $1,270,000 after acquiring an additional 1,543 shares in the last quarter. Vanguard Group Inc. grew its holdings in Visa by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after purchasing an additional 1,054,343 shares during the last quarter. Wealth Enhancement Trust Services Inc. purchased a new position in Visa in the fourth quarter worth $15,966,000. Finally, Ticino Wealth acquired a new position in shares of Visa during the fourth quarter worth $1,837,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 20,970 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,162,953.50. This trade represents a 58.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of Visa stock in a transaction dated 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 transaction, the insider owned 49,662 shares of the company’s stock, valued at approximately $18,125,140.14. This represents a 53.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 90,759 shares of company stock valued at $32,375,779. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $432.00 price objective (up from $412.00) on shares of Visa in a report on Thursday, July 30th. Susquehanna reaffirmed a “positive” rating and set a $427.00 target price (up from $410.00) on shares of Visa in a research report on Wednesday, July 29th. Wolfe Research reiterated an “outperform” rating and issued a $435.00 price target (up from $430.00) on shares of Visa in a research note on Wednesday, July 29th. Raymond James Financial reissued an “outperform” rating and issued a $406.00 price target on shares of Visa in a report on Wednesday, July 29th. Finally, Truist Financial set a $406.00 price target on Visa and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $413.58.

Visa Stock Down 0.5%

Visa stock opened at $360.67 on Tuesday. The firm has a market cap of $643.59 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.94 and a beta of 0.74. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $373.97. The business’s 50-day moving average price is $345.87 and its 200 day moving average price is $327.28. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. The company had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.Visa’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.98 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 13.14 earnings per share for the current year.

Visa declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Visa Dividend Announcement

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

About Visa

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.