LifeSteps Financial Inc. Has $423,000 Position in Visa Inc. $V

LifeSteps Financial Inc. boosted its position in shares of Visa Inc. (NYSE:V) by 7.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,190 shares of the credit-card processor’s stock after purchasing an additional 83 shares during the quarter. LifeSteps Financial Inc.’s holdings in Visa were worth $423,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Keystone Global Partners LLC bought a new position in Visa in the first quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new position in Visa in the first quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC bought a new position in Visa in the second quarter valued at approximately $28,000. Cranbrook Wealth Management LLC lifted its stake in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC bought a new position in Visa in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction 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 in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were 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 owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on V. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Morgan Stanley boosted their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Oppenheimer boosted their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $389.00.

Visa Stock Performance

NYSE V opened at $343.63 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average price is $343.77 and its two-hundred day moving average price is $346.99. Visa Inc. has a 1 year low of $275.37 and a 1 year high of $375.51. The firm has a market capitalization of $629.79 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90.

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

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is 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.