Beacon Financial Group Has $4.46 Million Stake in Visa Inc. $V

by · The Cerbat Gem

Beacon Financial Group increased its position in shares of Visa Inc. (NYSE:V – Free Report) by 2.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 12,554 shares of the credit-card processor’s stock after purchasing an additional 341 shares during the period. Beacon Financial Group’s holdings in Visa were worth $4,457,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in V. Brighton Jones LLC increased its holdings in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares during the last quarter. Tremblant Capital Group increased its holdings in Visa by 14.8% during the fourth quarter. Tremblant Capital Group now owns 8,116 shares of the credit-card processor’s stock worth $2,565,000 after buying an additional 1,044 shares during the last quarter. St. Clair Advisors LLC acquired a new position in shares of Visa in the fourth quarter valued at $816,000. Finally, Wimmer Associates 1 LLC increased its holdings in shares of Visa by 0.4% in the fourth quarter. Wimmer Associates 1 LLC now owns 21,083 shares of the credit-card processor’s stock valued at $6,663,000 after purchasing an additional 85 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 0.1%

V stock opened at $338.96 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50-day simple moving average is $346.67 and its 200 day simple moving average is $346.69. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The company has a market capitalization of $621.24 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92.

Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating 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 business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the company posted $2.42 earnings per share. Visa’s revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is currently 23.05%.

Analyst Upgrades and Downgrades

Several research firms have commented on V. UBS Group reiterated a “buy” rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Oppenheimer upped their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Macquarie upped their price objective on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Jefferies Financial Group upped their price objective on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $385.96.

Check Out Our Latest Report on V

Visa Company Profile

(Free Report)

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.

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