Madison Wealth Management lifted its position in shares of Visa Inc. (NYSE:V) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,313 shares of the credit-card processor’s stock after acquiring an additional 271 shares during the quarter. Visa accounts for approximately 0.9% of Madison Wealth Management’s portfolio, making the stock its 27th largest holding. Madison Wealth Management’s holdings in Visa were worth $4,282,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Danda Trouve Investment Management Inc. acquired a new stake in Visa in the second quarter valued at $25,000. Baldrige Asset Management LLC purchased a new position in shares of Visa in the 2nd quarter valued at about $40,000. FFT Wealth Management LLC acquired a new stake in shares of Visa in the second quarter valued at about $46,000. Financial Management Professionals Inc. lifted its stake in shares of Visa by 38.9% in the second quarter. Financial Management Professionals Inc. now owns 207 shares of the credit-card processor’s stock valued at $48,000 after purchasing an additional 58 shares during the period. Finally, Harvest Group Wealth Management LLC acquired a new position in Visa during the second quarter worth about $50,000. 81.04% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on V shares. Piper Sandler boosted their price target on Visa from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Daiwa Capital Markets lowered Visa from an “outperform” rating to a “neutral” rating and set a $250.00 target price on the stock. in a report on Thursday, August 12th. JPMorgan Chase & Co. lifted their price target on Visa from $249.00 to $267.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 17th. Morgan Stanley boosted their price objective on shares of Visa from $279.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Finally, Susquehanna raised their target price on shares of Visa from $265.00 to $290.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. One analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $271.52.
Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 27th. The credit-card processor reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.16. The company had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Visa had a net margin of 47.97% and a return on equity of 35.45%. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 EPS. As a group, research analysts expect that Visa Inc. will post 5.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 12th. Visa’s dividend payout ratio (DPR) is presently 25.40%.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, June 30th. The stock was sold at an average price of $235.11, for a total transaction of $2,115,990.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Ryan Mcinerney sold 11,193 shares of Visa stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $229.10, for a total value of $2,564,316.30. Following the sale, the president now directly owns 11,193 shares in the company, valued at $2,564,316.30. The disclosure for this sale can be found here. Insiders have sold 84,813 shares of company stock valued at $20,342,613 over the last 90 days. 0.19% of the stock is currently owned by insiders.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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