Visa Inc. (NYSE:V) Shares Bought by Abound Wealth Management

Abound Wealth Management grew its stake in Visa Inc. (NYSE:V) by 8.4% in the second quarter, Holdings Channel.com reports. The firm owned 843 shares of the credit-card processor’s stock after acquiring an additional 65 shares during the quarter. Abound Wealth Management’s holdings in Visa were worth $221,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new stake in shares of Visa in the 4th quarter valued at approximately $25,000. Westend Capital Management LLC purchased a new position in Visa in the first quarter worth approximately $25,000. POM Investment Strategies LLC increased its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Visa in the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Royal Bank of Canada dropped their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Piper Sandler lowered their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. TD Cowen dropped their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $309.81.

Visa Trading Up 0.7 %

V opened at $287.35 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The company has a market cap of $523.64 billion, a P/E ratio of 32.11, a PEG ratio of 2.01 and a beta of 0.96. The business’s 50-day simple moving average is $268.29 and its 200-day simple moving average is $273.16.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio is presently 23.24%.

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.