Momentous Wealth Management Inc. Buys 36 Shares of Visa Inc. (NYSE:V)

by · The Cerbat Gem

Momentous Wealth Management Inc. increased its stake in Visa Inc. (NYSE:V – Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,171 shares of the credit-card processor’s stock after acquiring an additional 36 shares during the period. Visa comprises about 0.3% of Momentous Wealth Management Inc.’s holdings, making the stock its 24th largest holding. Momentous Wealth Management Inc.’s holdings in Visa were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthquest Corp increased its holdings in Visa by 3.2% during the 1st quarter. Wealthquest Corp now owns 1,893 shares of the credit-card processor’s stock valued at $663,000 after purchasing an additional 58 shares during the period. Pasadena Private Wealth LLC purchased a new position in Visa during the 1st quarter valued at about $380,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Visa by 19.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 29,692 shares of the credit-card processor’s stock valued at $10,406,000 after purchasing an additional 4,824 shares during the period. HHM Wealth Advisors LLC increased its holdings in Visa by 2.8% during the 1st quarter. HHM Wealth Advisors LLC now owns 6,070 shares of the credit-card processor’s stock valued at $2,127,000 after purchasing an additional 163 shares during the period. Finally, Brentview Investment Management LLC increased its holdings in Visa by 5.0% during the 1st quarter. Brentview Investment Management LLC now owns 15,444 shares of the credit-card processor’s stock valued at $5,412,000 after purchasing an additional 735 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of a number of research analyst reports. Raymond James Financial restated an “outperform” rating on shares of Visa in a report on Wednesday. Barclays restated an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday. Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Finally, Jefferies Financial Group upped their target price on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $380.84.

Check Out Our Latest Research Report on Visa

Visa Stock Performance

V stock opened at $345.69 on Friday. The stock has a market capitalization of $637.86 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. Visa Inc. has a 12-month low of $254.51 and a 12-month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $355.36 and its 200 day simple moving average is $346.13.

Visa (NYSE:V – Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 EPS. As a group, research analysts forecast that Visa Inc. will post 11.3 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 2nd. Investors of record on Tuesday, August 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is 23.05%.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,913 shares of company stock worth $32,902,432 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Visa 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.

Further Reading