Evolve Private Wealth LLC Has $2.43 Million Position in Visa Inc. $V

Evolve Private Wealth LLC lessened its stake in Visa Inc. (NYSE:V) by 21.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,084 shares of the credit-card processor’s stock after selling 1,926 shares during the period. Evolve Private Wealth LLC’s holdings in Visa were worth $2,431,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in V. G&S Capital LLC grew its holdings in shares of Visa by 4.0% during the 2nd quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock worth $261,000 after purchasing an additional 29 shares in the last quarter. Keating Financial Advisory Services Inc. increased its position in shares of Visa by 0.9% during the second quarter. Keating Financial Advisory Services Inc. now owns 3,189 shares of the credit-card processor’s stock valued at $1,094,000 after purchasing an additional 29 shares during the period. NerdWallet Wealth Partners LLC increased its position in shares of Visa by 4.5% during the second quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock valued at $239,000 after purchasing an additional 30 shares during the period. Frederick Financial Consultants LLC raised its stake in shares of Visa by 2.0% in the fourth quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after purchasing an additional 31 shares in the last quarter. Finally, Kuhn & Co Investment Counsel raised its stake in shares of Visa by 0.5% in the fourth quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock valued at $2,138,000 after purchasing an additional 32 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

V has been the subject of several research reports. Barclays started coverage on shares of Visa in a research note on Tuesday, July 7th. They set an “overweight” rating and a $420.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $430.00 price objective on shares of Visa in a research note on Wednesday, July 29th. Piper Sandler reaffirmed an “overweight” rating and set a $430.00 price objective (up from $394.00) on shares of Visa in a report on Wednesday, July 29th. Clear Str upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, Evercore set a $350.00 target price on shares of Visa in a research note on Wednesday, April 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $413.58.

Insider Activity at Visa

In other Visa news, insider Tullier Kelly Mahon sold 57,272 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the transaction, the insider directly owned 49,662 shares in the company, valued at $18,125,140.14. The trade was a 53.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 90,759 shares of company stock valued at $32,375,779 in the last ninety days. Insiders own 0.12% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $371.09 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The business’s fifty day moving average price is $353.73 and its two-hundred day moving average price is $329.64. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $373.97. The stock has a market capitalization of $662.18 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company had revenue of $11.63 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period last year, the business earned $2.98 earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. As a group, analysts predict that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is currently 22.79%.

Visa announced that its board has approved a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.