Principle Wealth Partners LLC Acquires 1,908 Shares of Visa Inc. $V

Principle Wealth Partners LLC lifted its holdings in Visa Inc. (NYSE:V) by 5.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 39,437 shares of the credit-card processor’s stock after acquiring an additional 1,908 shares during the quarter. Visa accounts for about 0.9% of Principle Wealth Partners LLC’s holdings, making the stock its 24th biggest holding. Principle Wealth Partners LLC’s holdings in Visa were worth $14,002,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the last quarter. Northern Trust Corp increased its stake in shares of Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after buying an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Visa by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock worth $4,442,157,000 after buying an additional 434,217 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after buying an additional 1,651,954 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 0.4%

NYSE:V opened at $347.34 on Friday. The firm’s 50-day moving average price is $344.79 and its 200-day moving average price is $347.87. The company has a market capitalization of $636.60 billion, a PE ratio of 33.92, a P/E/G ratio of 2.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51.

Visa (NYSE:V) last released its earnings results 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. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 EPS. On average, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is presently 23.05%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Macquarie lifted their target price on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday. UBS Group reaffirmed a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Visa in a research note on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $392.75.

Insider Transactions at Visa

In related 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 transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. The trade was 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 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 transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 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.