Ritholtz Wealth Management Has $23.18 Million Stake in Visa Inc. $V

Ritholtz Wealth Management boosted its stake in Visa Inc. (NYSE:V) by 6.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 65,286 shares of the credit-card processor’s stock after buying an additional 3,991 shares during the period. Visa accounts for approximately 0.5% of Ritholtz Wealth Management’s holdings, making the stock its 28th largest position. Ritholtz Wealth Management’s holdings in Visa were worth $23,180,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Yeomans Consulting Group Inc. boosted its stake in Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares in the last quarter. Semus Wealth Partners LLC raised its position in Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after purchasing an additional 29 shares during the last quarter. BankPlus Wealth Management LLC raised its position in Visa by 0.9% in the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after purchasing an additional 29 shares during the last quarter. Transcendent Capital Group LLC raised its position in Visa by 2.9% in the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares during the last quarter. Finally, Wood Tarver Financial Group LLC raised its position in Visa by 11.1% in the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock valued at $105,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The shares were 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 directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Up 1.9%

Shares of V opened at $341.90 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The firm has a market capitalization of $626.63 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90. The stock’s fifty day simple moving average is $344.30 and its 200-day simple moving average is $346.83.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (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 analyst estimates of $9.82 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. UBS Group reiterated a “buy” rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Morgan Stanley lifted their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Barclays reiterated an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Visa Company 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.