Leavell Investment Management Inc. Acquires 273 Shares of Visa Inc. $V

Leavell Investment Management Inc. raised its holdings in Visa Inc. (NYSE:V) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,116 shares of the credit-card processor’s stock after purchasing an additional 273 shares during the quarter. Visa makes up about 0.8% of Leavell Investment Management Inc.’s investment portfolio, making the stock its 26th largest position. Leavell Investment Management Inc.’s holdings in Visa were worth $17,084,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Highland Capital Management LLC raised its position in shares of Visa by 16.0% during the first quarter. Highland Capital Management LLC now owns 68,987 shares of the credit-card processor’s stock worth $24,177,000 after acquiring an additional 9,505 shares during the last quarter. Bordeaux Wealth Advisors LLC raised its position in shares of Visa by 13.5% during the first quarter. Bordeaux Wealth Advisors LLC now owns 15,416 shares of the credit-card processor’s stock worth $5,403,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Confluence Wealth Services Inc. raised its position in shares of Visa by 6.0% during the first quarter. Confluence Wealth Services Inc. now owns 20,750 shares of the credit-card processor’s stock worth $6,938,000 after acquiring an additional 1,175 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $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. 0.13% of the stock is owned by corporate insiders.

Visa Stock Up 0.1%

V stock opened at $347.71 on Tuesday. 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 stock has a market capitalization of $637.28 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.05 and a beta of 0.90. The business has a 50-day moving average of $344.89 and a 200-day moving average of $348.09. Visa Inc. has a fifty-two week low of $281.35 and a fifty-two week high of $375.51.

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

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. KeyCorp reiterated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Finally, Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $392.75.

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.