1900 Wealth Management LLC Has $1.53 Million Stock Position in Visa Inc. $V

1900 Wealth Management LLC lowered its position in shares of Visa Inc. (NYSE:V) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 4,313 shares of the credit-card processor’s stock after selling 39 shares during the quarter. 1900 Wealth Management LLC’s holdings in Visa were worth $1,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the period. Northern Trust Corp raised its stake in shares of Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after purchasing an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after buying an additional 434,217 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after buying an additional 1,651,954 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Monday, August 18th. The shares were 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 in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Trading Up 1.1%

Shares of V opened at $349.90 on Monday. The stock’s 50-day moving average price is $343.78 and its 200 day moving average price is $346.81. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $641.28 billion, a price-to-earnings ratio of 34.17, a P/E/G ratio of 2.07 and a beta of 0.90. Visa Inc. has a 12-month low of $273.24 and a 12-month high of $375.51.

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

Visa Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on V shares. Barclays restated an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Saturday, September 27th. Finally, UBS Group reaffirmed a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $385.96.

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.