Lowe Wealth Advisors LLC Sells 74 Shares of Visa Inc. (NYSE:V)

Lowe Wealth Advisors LLC lowered its holdings in Visa Inc. (NYSE:V) by 13.7% in the second quarter, Holdings Channel reports. The firm owned 468 shares of the credit-card processor’s stock after selling 74 shares during the quarter. Lowe Wealth Advisors LLC’s holdings in Visa were worth $111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of V. Financial Freedom LLC bought a new position in shares of Visa in the 4th quarter valued at about $32,000. Ridgewood Investments LLC bought a new position in shares of Visa in the 1st quarter valued at about $35,000. Kalos Management Inc. bought a new stake in shares of Visa during the 1st quarter worth about $40,000. NewSquare Capital LLC boosted its holdings in shares of Visa by 121.9% during the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock worth $48,000 after buying an additional 117 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC boosted its holdings in shares of Visa by 666.7% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock worth $52,000 after buying an additional 200 shares during the period. Institutional investors own 81.35% of the company’s stock.

Visa Trading Down 0.2 %

Shares of Visa stock opened at $241.00 on Friday. The firm has a market capitalization of $448.70 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.95. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $241.58 and its 200 day moving average is $232.04. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $250.06.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.05. The company had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.06 billion. Visa had a net margin of 51.94% and a return on equity of 49.42%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.98 EPS. Equities research analysts forecast that Visa Inc. will post 8.65 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s payout ratio is 22.84%.

Insiders Place Their Bets

In other Visa news, insider Rajat Taneja sold 15,800 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $58,030,321.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Ryan Mcinerney sold 425 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total value of $102,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Rajat Taneja sold 15,800 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the sale, the insider now directly owns 232,112 shares in the company, valued at $58,030,321.12. The disclosure for this sale can be found here. Insiders have sold 81,550 shares of company stock valued at $19,795,806 in the last ninety days. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Citigroup lifted their target price on shares of Visa from $273.00 to $275.00 in a report on Wednesday, July 26th. Oppenheimer reaffirmed an “outperform” rating and set a $248.00 target price on shares of Visa in a report on Monday, July 24th. Bank of America lifted their price objective on shares of Visa from $270.00 to $275.00 in a research note on Tuesday, July 18th. Susquehanna lifted their price objective on shares of Visa from $266.00 to $300.00 in a research note on Wednesday, July 26th. Finally, Truist Financial lifted their price objective on shares of Visa from $270.00 to $275.00 in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $273.77.

Visa Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.