Visa Inc. $V Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. lessened its holdings in Visa Inc. (NYSE:V) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,373 shares of the credit-card processor’s stock after selling 273 shares during the period. Wrapmanager Inc.’s holdings in Visa were worth $3,328,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Brighton Jones LLC raised its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Kingsman Wealth Management Inc. purchased a new stake in shares of Visa in the 1st quarter valued at approximately $1,935,000. Capital & Planning LLC raised its holdings in shares of Visa by 25.1% in the 1st quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock valued at $416,000 after purchasing an additional 238 shares in the last quarter. Finally, Bridgewater Advisors Inc. lifted its position in shares of Visa by 1.8% during the 1st quarter. Bridgewater Advisors Inc. now owns 19,668 shares of the credit-card processor’s stock worth $6,717,000 after purchasing an additional 356 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was 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 in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 23,897 shares of company stock worth $8,164,561 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Visa Stock Down 0.9%

Shares of NYSE V opened at $335.76 on Friday. The business has a 50-day moving average price of $342.43 and a 200 day moving average price of $348.69. The stock has a market cap of $615.37 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.05 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a $0.67 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is currently 26.25%.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Morgan Stanley set a $398.00 target price on Visa and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, Macquarie dropped their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $400.00.

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.