Wedmont Private Capital Acquires 2,028 Shares of Visa Inc. (NYSE:V)

Wedmont Private Capital lifted its stake in Visa Inc. (NYSE:V) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,572 shares of the credit-card processor’s stock after purchasing an additional 2,028 shares during the quarter. Wedmont Private Capital’s holdings in Visa were worth $4,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Long Run Wealth Advisors LLC lifted its holdings in shares of Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after buying an additional 37 shares in the last quarter. Alaethes Wealth LLC raised its stake in shares of Visa by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 37 shares in the last quarter. Jessup Wealth Management Inc boosted its stake in Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares in the last quarter. Cordatus Wealth Management LLC grew its holdings in Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after purchasing an additional 37 shares during the last quarter. Finally, Aurora Private Wealth Inc. increased its position in shares of Visa by 3.8% during the first quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock worth $289,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Trading Up 0.4 %

Shares of V stock traded up $0.96 during trading hours on Tuesday, reaching $260.85. 5,176,865 shares of the stock traded hands, compared to its average volume of 7,187,822. The business has a fifty day moving average price of $267.35 and a 200 day moving average price of $273.83. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The firm has a market capitalization of $475.35 billion, a PE ratio of 29.03, a PEG ratio of 1.83 and a beta of 0.95.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the company earned $2.16 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.80%. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on V shares. Morgan Stanley decreased their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. TD Cowen reduced their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. UBS Group boosted their price objective on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Mizuho boosted their target price on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $307.25.

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.