Whitaker Myers Wealth Managers LTD. Sells 207 Shares of Visa Inc. $V

Whitaker Myers Wealth Managers LTD. decreased its position in Visa Inc. (NYSE:V) by 24.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 628 shares of the credit-card processor’s stock after selling 207 shares during the period. Whitaker Myers Wealth Managers LTD.’s holdings in Visa were worth $223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keystone Global Partners LLC purchased a new stake in Visa in the first quarter worth $26,000. von Borstel & Associates Inc. purchased a new stake in Visa in the first quarter worth $27,000. 1 North Wealth Services LLC purchased a new stake in Visa in the first quarter worth $38,000. Anderson Financial Strategies LLC purchased a new stake in Visa in the first quarter worth $53,000. Finally, O Brien Wealth Partners LLC purchased a new stake in Visa in the first quarter worth $54,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Price Performance

V opened at $339.33 on Friday. The stock has a 50-day moving average price of $347.03 and a 200-day moving average price of $346.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $621.92 billion, a PE ratio of 33.14, a P/E/G ratio of 2.29 and a beta of 0.92. Visa Inc. has a 1 year low of $268.23 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 EPS. Sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

Wall Street Analyst Weigh In

Several brokerages have commented on V. Truist Financial lowered their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Barclays reissued an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, UBS Group reissued a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

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.