Level Wealth Management LLC Sells 447 Shares of Visa Inc. $V

Level Wealth Management LLC trimmed its holdings in Visa Inc. (NYSE:V) by 8.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,051 shares of the credit-card processor’s stock after selling 447 shares during the quarter. Visa accounts for about 1.0% of Level Wealth Management LLC’s holdings, making the stock its 16th biggest holding. Level Wealth Management LLC’s holdings in Visa were worth $1,793,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in V. Keystone Global Partners LLC bought a new stake in Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new stake in Visa during the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. bought a new stake in Visa during the 2nd quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC raised its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on V. Robert W. Baird set a $410.00 price target on shares of Visa and gave the company an “outperform” rating in a report on Monday, October 6th. UBS Group reiterated a “buy” rating and set a $415.00 price target (up from $405.00) on shares of Visa in a 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 report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a 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 report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $389.74.

Visa Stock Up 0.8%

Shares of NYSE V opened at $347.17 on Wednesday. The company has a current ratio of 1.12, a quick 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 $636.29 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90. The firm has a fifty day simple moving average of $344.68 and a two-hundred day simple moving average of $347.11.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $9.82 billion. During the same period in the prior year, the business earned $2.42 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued 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 23.05%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated 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 $4,102,438.50. This represents a 14.53% 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 corporate insiders.

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.