Corient Private Wealth LLC Increases Holdings in Visa Inc. $V

Corient Private Wealth LLC boosted its position in shares of Visa Inc. (NYSE:V) by 6.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,995,976 shares of the credit-card processor’s stock after buying an additional 116,328 shares during the period. Visa comprises about 1.0% of Corient Private Wealth LLC’s investment portfolio, making the stock its 18th largest holding. Corient Private Wealth LLC’s holdings in Visa were worth $708,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa in the second quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new position in Visa during the 2nd quarter worth about $29,000. Sagard Holdings Management Inc. purchased a new position in Visa during the 2nd quarter valued at about $31,000. Bare Financial Services Inc raised its holdings in shares of Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 66 shares in the last quarter. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 0.2%

NYSE:V opened at $347.15 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a market cap of $632.42 billion, a PE ratio of 34.00, a P/E/G ratio of 2.05 and a beta of 0.82. The company’s 50 day moving average is $337.65 and its two-hundred day moving average is $345.04.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.71 earnings per share. Analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were issued a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is currently 26.25%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. This trade represents a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,042 shares of company stock valued at $8,175,152. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on V. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Bank of America raised Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price on the stock in a research report on Thursday, December 11th. Evercore ISI set a $380.00 price target on Visa in a report on Friday. Macquarie decreased their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $402.52.

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.