Allen Wealth Management LLC Reduces Stock Position in Visa Inc. $V

Allen Wealth Management LLC lowered its holdings in shares of Visa Inc. (NYSE:V) by 8.3% in the second quarter, Holdings Channel.com reports. The fund owned 2,866 shares of the credit-card processor’s stock after selling 258 shares during the quarter. Visa comprises 0.7% of Allen Wealth Management LLC’s portfolio, making the stock its 28th biggest holding. Allen Wealth Management LLC’s holdings in Visa were worth $1,018,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Keystone Global Partners LLC bought a new stake in Visa during the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the 2nd quarter worth $28,000. von Borstel & Associates Inc. bought a new position in shares of Visa in the 1st quarter worth $27,000. Cranbrook Wealth Management LLC raised its position 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 worth $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC raised its position in shares of Visa by 83.1% in the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale 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 company’s stock in a transaction dated Monday, August 18th. The stock was 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 owned 11,925 shares in the company, valued at $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.

Visa Stock Up 1.5%

Visa stock opened at $348.39 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day simple moving average is $344.01 and its two-hundred day simple moving average is $346.98. The company has a market cap of $638.53 billion, a PE ratio of 34.02, a PEG ratio of 2.03 and a beta of 0.90. Visa Inc. has a fifty-two week low of $278.35 and a fifty-two week high of $375.51.

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

Visa Dividend Announcement

The company also recently declared 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. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s payout ratio is presently 23.05%.

Analysts Set New Price Targets

Several research analysts have recently commented on V shares. UBS Group reissued a “buy” rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Morgan Stanley boosted their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $389.00.

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.