Spartan Planning & Wealth Management Buys 245 Shares of Visa Inc. $V

Spartan Planning & Wealth Management raised its stake in shares of Visa Inc. (NYSE:V) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,360 shares of the credit-card processor’s stock after purchasing an additional 245 shares during the period. Visa accounts for approximately 1.0% of Spartan Planning & Wealth Management’s investment portfolio, making the stock its 20th biggest position. Spartan Planning & Wealth Management’s holdings in Visa were worth $1,193,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Yeomans Consulting Group Inc. increased its holdings in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC increased its holdings in Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after purchasing an additional 29 shares in the last quarter. BankPlus Wealth Management LLC increased its holdings in Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after purchasing an additional 29 shares in the last quarter. Kennebec Savings Bank increased its holdings in Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor’s stock worth $1,182,000 after purchasing an additional 30 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in Visa by 0.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor’s stock worth $1,345,000 after purchasing an additional 30 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays reissued an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’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 value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Visa Price Performance

Visa stock opened at $348.21 on Thursday. Visa Inc. has a 12 month low of $273.24 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business’s 50 day simple moving average is $344.09 and its 200 day simple moving average is $346.52. The company has a market cap of $638.20 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 2.27 and a beta of 0.90.

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 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 business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

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.