686 Shares in Visa Inc. (NYSE:V) Bought by CCG Wealth Management LLC

CCG Wealth Management LLC bought a new position in Visa Inc. (NYSE:V) during the first quarter, according to its most recent filing with the SEC. The firm bought 686 shares of the credit-card processor’s stock, valued at approximately $240,000.

A number of other large investors also recently modified their holdings of V. Capital & Planning LLC increased its stake in Visa by 21.2% in the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock valued at $300,000 after buying an additional 166 shares during the last quarter. Sovereign Investment Advisors LLC purchased a new stake in Visa in the 4th quarter valued at about $424,000. Brighton Jones LLC increased its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Visa in the 4th quarter valued at about $202,074,000. Finally, Revolve Wealth Partners LLC increased its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $185,576.46. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock worth $36,738,526 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 0.7%

Shares of Visa stock opened at $338.04 on Friday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The stock’s 50-day simple moving average is $351.78 and its 200 day simple moving average is $338.74. The stock has a market capitalization of $623.73 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the prior year, the business posted $2.51 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. As a group, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on V shares. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. The Goldman Sachs Group started coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating on the stock. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Barclays reiterated an “overweight” rating on shares of Visa in a research note on Friday, June 13th. Finally, Citigroup started coverage on Visa in a research note on Monday, June 2nd. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

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.