Pines Wealth Management LLC Raises Position in Visa Inc. $V

by · The Markets Daily

Pines Wealth Management LLC raised its stake in Visa Inc. (NYSE:V – Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,906 shares of the credit-card processor’s stock after purchasing an additional 179 shares during the quarter. Visa accounts for about 0.9% of Pines Wealth Management LLC’s portfolio, making the stock its 25th biggest position. Pines Wealth Management LLC’s holdings in Visa were worth $2,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Keystone Global Partners LLC purchased a new stake in shares of Visa during the first quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter valued at approximately $27,000. 1 North Wealth Services LLC purchased a new stake in shares of Visa during the first quarter valued at approximately $38,000. Anderson Financial Strategies LLC purchased a new stake in shares of Visa during the first quarter valued at approximately $53,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the first quarter valued at approximately $54,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Visa stock opened at $345.62 on Thursday. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The business has a fifty day moving average price of $346.16 and a 200-day moving average price of $346.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $633.45 billion, a P/E ratio of 33.75, a PEG ratio of 2.26 and a beta of 0.92.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the company earned $2.42 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

V has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating for the company. UBS Group reaffirmed a “buy” rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group increased their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $385.96.

Check Out Our Latest Analysis on V

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.

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