Alta Wealth Advisors LLC Sells 59 Shares of Visa Inc. (NYSE:V)

Alta Wealth Advisors LLC lowered its position in Visa Inc. (NYSE:V) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,561 shares of the credit-card processor’s stock after selling 59 shares during the quarter. Alta Wealth Advisors LLC’s holdings in Visa were worth $935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of V. GUNN & Co INVESTMENT MANAGEMENT INC. lifted its position in Visa by 1,215.7% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 168,786 shares of the credit-card processor’s stock valued at $43,943,000 after purchasing an additional 155,957 shares in the last quarter. Sage Mountain Advisors LLC lifted its position in Visa by 7.9% during the fourth quarter. Sage Mountain Advisors LLC now owns 10,722 shares of the credit-card processor’s stock valued at $2,791,000 after purchasing an additional 788 shares in the last quarter. RWA Wealth Partners LLC lifted its position in Visa by 120.5% during the fourth quarter. RWA Wealth Partners LLC now owns 175,196 shares of the credit-card processor’s stock valued at $45,612,000 after purchasing an additional 95,756 shares in the last quarter. Garrison Asset Management LLC lifted its position in Visa by 63.2% during the fourth quarter. Garrison Asset Management LLC now owns 1,882 shares of the credit-card processor’s stock valued at $490,000 after purchasing an additional 729 shares in the last quarter. Finally, Aspire Private Capital LLC lifted its position in Visa by 4.3% during the fourth quarter. Aspire Private Capital LLC now owns 3,189 shares of the credit-card processor’s stock valued at $830,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on V shares. Piper Sandler lowered their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. TD Cowen decreased their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Bank of America restated a “neutral” rating and issued a $297.00 price target (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Finally, Evercore ISI reduced their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $308.50.

Visa Trading Down 0.2 %

Shares of Visa stock traded down $0.50 on Friday, reaching $267.44. The company had a trading volume of 3,697,448 shares, compared to its average volume of 7,178,655. The firm has a market cap of $489.13 billion, a price-to-earnings ratio of 29.88, a P/E/G ratio of 1.89 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm’s 50-day moving average price is $265.93 and its two-hundred day moving average price is $273.30. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96.

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

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is currently 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.