Westside Investment Management Inc. Acquires 305 Shares of Visa Inc. $V

Westside Investment Management Inc. grew its holdings in Visa Inc. (NYSE:V) by 37.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,118 shares of the credit-card processor’s stock after purchasing an additional 305 shares during the period. Westside Investment Management Inc.’s holdings in Visa were worth $397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of V. Keystone Global Partners LLC bought a new stake in shares of Visa in the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa during the second quarter valued at approximately $28,000. Harbor Asset Planning Inc. purchased a new position in Visa during the second quarter valued at approximately $29,000. Cranbrook Wealth Management LLC grew its stake in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Hoese & Co LLP purchased a new position in Visa during the second quarter valued at approximately $36,000. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on V shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Barclays reaffirmed an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Price Performance

V stock opened at $340.00 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. Visa Inc. has a one year low of $291.58 and a one year high of $375.51. The stock has a market cap of $623.15 billion, a PE ratio of 33.30, a P/E/G ratio of 2.01 and a beta of 0.87. The firm has a 50 day simple moving average of $344.31 and a two-hundred day simple moving average of $348.65.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the company earned $2.71 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is presently 23.11%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were 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 directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 22,997 shares of company stock valued at $7,861,729. Company insiders own 0.13% of the company’s stock.

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.