Prasad Wealth Partners LLC Has $1.88 Million Position in Visa Inc. $V

Prasad Wealth Partners LLC lowered its holdings in shares of Visa Inc. (NYSE:V) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,303 shares of the credit-card processor’s stock after selling 85 shares during the quarter. Prasad Wealth Partners LLC’s holdings in Visa were worth $1,883,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of V. 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 purchasing an additional 6,883 shares during the period. 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 purchasing an additional 4,817 shares during the period. GAMMA Investing LLC raised its position in shares of Visa by 9.9% during the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock worth $14,761,000 after purchasing an additional 3,795 shares during the period. McElhenny Sheffield Capital Management LLC raised its position in shares of Visa by 130.9% during the first quarter. McElhenny Sheffield Capital Management LLC now owns 2,415 shares of the credit-card processor’s stock worth $846,000 after purchasing an additional 1,369 shares during the period. Finally, May Barnhard Investments LLC boosted its position in shares of Visa by 22.9% during the first quarter. May Barnhard Investments LLC now owns 1,489 shares of the credit-card processor’s stock worth $522,000 after buying an additional 277 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred 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 directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Barclays reaffirmed an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday. Finally, Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $389.00.

Visa Stock Down 1.0%

V stock opened at $343.63 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $343.77 and a two-hundred day moving average price of $346.97. The company has a market cap of $629.79 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 2.06 and a beta of 0.90. Visa Inc. has a twelve month low of $275.37 and a twelve month high of $375.51.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

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.