RMG Wealth Management LLC Takes Position in Visa Inc. $V

RMG Wealth Management LLC acquired a new stake in Visa Inc. (NYSE:V) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 150 shares of the credit-card processor’s stock, valued at approximately $52,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Yeomans Consulting Group Inc. lifted 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 worth $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC lifted its stake 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 worth $1,209,000 after purchasing an additional 29 shares in the last quarter. BankPlus Wealth Management LLC lifted its position in Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after buying an additional 29 shares in the last quarter. Wood Tarver Financial Group LLC lifted its position in Visa by 11.1% during the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock worth $105,000 after buying an additional 30 shares in the last quarter. Finally, Synergy Investment Management LLC lifted its position in Visa by 5.3% during the first quarter. Synergy Investment Management LLC now owns 597 shares of the credit-card processor’s stock worth $209,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley lifted their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Barclays reiterated an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. 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. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, UBS Group reaffirmed a “buy” rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $389.00.

Visa Price Performance

Visa stock opened at $343.63 on Friday. The company’s 50 day simple moving average is $343.77 and its 200-day simple moving average is $346.97. The company has a market capitalization of $629.79 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. Visa Inc. has a 1 year low of $275.37 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The business 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 business’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 EPS. As a group, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Visa 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.