HCR Wealth Advisors Cuts Stock Position in Visa Inc. $V

HCR Wealth Advisors lessened its position in Visa Inc. (NYSE:V) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,923 shares of the credit-card processor’s stock after selling 200 shares during the quarter. Visa makes up 1.3% of HCR Wealth Advisors’ investment portfolio, making the stock its 15th largest holding. HCR Wealth Advisors’ holdings in Visa were worth $11,334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Brighton Jones LLC raised its holdings in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares during the period. Apella Capital LLC grew its stake in Visa by 67.7% during the 1st quarter. Apella Capital LLC now owns 2,989 shares of the credit-card processor’s stock worth $994,000 after purchasing an additional 1,207 shares in the last quarter. Clare Market Investments LLC grew its stake in Visa by 16.1% during the 1st quarter. Clare Market Investments LLC now owns 3,295 shares of the credit-card processor’s stock worth $1,155,000 after purchasing an additional 456 shares in the last quarter. Finally, Matrix Trust Co grew its stake in Visa by 28.0% during the 1st quarter. Matrix Trust Co now owns 654 shares of the credit-card processor’s stock worth $229,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on V shares. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. UBS Group reissued a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Barclays reissued an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $385.96.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Stock Down 0.5%

Shares of NYSE V opened at $345.97 on Friday. The company has a market capitalization of $634.09 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. 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 business has a 50-day moving average of $343.92 and a two-hundred day moving average of $346.60. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51.

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

Visa Announces Dividend

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

Visa 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.