Endowment Wealth Management Inc. Invests $354,000 in Visa Inc. $V

Endowment Wealth Management Inc. bought a new position in shares of Visa Inc. (NYSE:V) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 997 shares of the credit-card processor’s stock, valued at approximately $354,000.

Other hedge funds have also made changes to their positions in the company. Keystone Global Partners LLC acquired a new stake in Visa in the first quarter valued at about $26,000. von Borstel & Associates Inc. acquired a new stake in Visa in the first quarter valued at about $27,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa in the second quarter valued at about $28,000. Cranbrook Wealth Management LLC lifted its position in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the period. Finally, 1 North Wealth Services LLC acquired a new stake in Visa in the first quarter valued at about $38,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on V. Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Barclays reaffirmed an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $389.00.

Visa Trading Up 1.9%

Shares of V opened at $341.90 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $344.30 and a 200-day simple moving average of $346.83. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51. The stock has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 1.99 and a beta of 0.90.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their position. 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 firm’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 transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.