1,360 Shares in Visa Inc. $V Acquired by RiverGlades Family Offices LLC

RiverGlades Family Offices LLC bought a new position in shares of Visa Inc. (NYSE:V) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 1,360 shares of the credit-card processor’s stock, valued at approximately $483,000.

Several other hedge funds have also added to or reduced their stakes in the business. Lord & Richards Wealth Management LLC boosted its position in Visa by 10.1% during the 2nd quarter. Lord & Richards Wealth Management LLC now owns 4,782 shares of the credit-card processor’s stock worth $1,698,000 after buying an additional 440 shares during the period. Milestone Asset Management LLC boosted its position in Visa by 41.2% during the 2nd quarter. Milestone Asset Management LLC now owns 7,005 shares of the credit-card processor’s stock worth $2,487,000 after buying an additional 2,045 shares during the period. NewSquare Capital LLC boosted its position in Visa by 47.5% during the 2nd quarter. NewSquare Capital LLC now owns 957 shares of the credit-card processor’s stock worth $340,000 after buying an additional 308 shares during the period. Rockline Wealth Management LLC boosted its position in Visa by 3.0% during the 2nd quarter. Rockline Wealth Management LLC now owns 26,943 shares of the credit-card processor’s stock worth $9,566,000 after buying an additional 790 shares during the period. Finally, J. W. Coons Advisors LLC boosted its position in Visa by 74.7% during the 2nd quarter. J. W. Coons Advisors LLC now owns 12,101 shares of the credit-card processor’s stock worth $4,296,000 after buying an additional 5,175 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on V. Barclays reiterated an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. UBS Group set a $425.00 price target on shares of Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Macquarie dropped their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Stock Performance

NYSE:V opened at $340.31 on Thursday. The company has a fifty day moving average of $344.10 and a 200-day moving average of $348.59. The firm has a market capitalization of $623.72 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.06 and a beta of 0.87. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.71 EPS. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were 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 in the company, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,897 shares of company stock worth $8,164,561 in the last quarter. 0.13% of the stock is owned by corporate 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.