Leo Wealth LLC Purchases 2,632 Shares of Visa Inc. $V

Leo Wealth LLC raised its position in shares of Visa Inc. (NYSE:V) by 49.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,903 shares of the credit-card processor’s stock after acquiring an additional 2,632 shares during the period. Leo Wealth LLC’s holdings in Visa were worth $2,799,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of V. Nuveen LLC bought a new stake in Visa during the 1st quarter valued at approximately $3,518,533,000. Vanguard Group Inc. increased its position in Visa by 1.1% during 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 in the last quarter. Wellington Management Group LLP increased its position in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after buying an additional 1,651,954 shares in the last quarter. MUFG Securities EMEA plc bought a new position in Visa during the 1st quarter valued at approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V opened at $343.63 on Monday. The firm has a market cap of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.03 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $343.77 and a two-hundred day simple moving average of $346.97. Visa Inc. has a 1-year low of $275.37 and a 1-year high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share 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 net margin of 52.16% and a return on equity of 58.93%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. On average, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Analysts Set New Price Targets

V has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Barclays reaffirmed an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Robert W. Baird set a $410.00 price objective on Visa and gave the company an “outperform” rating in a research report on Monday, October 6th. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $697,328.54. Following 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 disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

About Visa

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.