Visa Inc. (NYSE:V) Stock Holdings Raised by Crestmont Private Wealth LLC

Crestmont Private Wealth LLC boosted its holdings in Visa Inc. (NYSE:V) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,448 shares of the credit-card processor’s stock after purchasing an additional 161 shares during the quarter. Visa makes up about 0.3% of Crestmont Private Wealth LLC’s investment portfolio, making the stock its 21st largest holding. Crestmont Private Wealth LLC’s holdings in Visa were worth $673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares in the last quarter. Capital International Investors boosted its position in shares of Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the period. Capital World Investors lifted its stake in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after acquiring an additional 345,829 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after acquiring an additional 312,286 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. Piper Sandler cut their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer initiated coverage on Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price on the stock. BMO Capital Markets lifted their price objective on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Finally, Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $277.84 on Friday. The business’s 50 day moving average is $274.16 and its 200-day moving average is $272.66. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $508.15 billion, a PE ratio of 31.04, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07.

Visa (NYSE:V) last announced its quarterly 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 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 quarter last year, the company earned $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm 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. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

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.