Premier Path Wealth Partners LLC Acquires 430 Shares of Visa Inc. $V

by · The Cerbat Gem

Premier Path Wealth Partners LLC grew its holdings in Visa Inc. (NYSE:V – Free Report) by 4.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,196 shares of the credit-card processor’s stock after purchasing an additional 430 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Visa were worth $3,975,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of V. Yeomans Consulting Group Inc. increased its position in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after buying an additional 29 shares during the last quarter. Semus Wealth Partners LLC lifted its position in shares of Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after buying an additional 29 shares during the last quarter. BankPlus Wealth Management LLC boosted its stake in shares of Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after acquiring an additional 29 shares in the last quarter. Transcendent Capital Group LLC boosted its stake in shares of Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares in the last quarter. Finally, Wood Tarver Financial Group LLC increased its holdings in shares of Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock valued at $105,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. Macquarie reduced their target price on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays reissued an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Robert W. Baird set a $425.00 price objective on shares of Visa in a research note on Wednesday. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Check Out Our Latest Report on Visa

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on 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 owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.13% of the company’s stock.

Visa Trading Down 1.1%

Shares of V stock opened at $341.07 on Friday. The firm has a market capitalization of $625.11 billion, a P/E ratio of 33.41, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. Visa Inc. has a 1 year low of $287.19 and a 1 year high of $375.51. The firm’s fifty day simple moving average is $344.78 and its 200 day simple moving average is $348.31. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm earned $2.71 EPS. The business’s revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is 23.11%.

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.

Further Reading

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).