Paladin Wealth LLC Sells 124 Shares of Visa Inc. $V

Paladin Wealth LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,782 shares of the credit-card processor’s stock after selling 124 shares during the period. Visa comprises 1.0% of Paladin Wealth LLC’s portfolio, making the stock its 25th biggest holding. Paladin Wealth LLC’s holdings in Visa were worth $1,343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. RMR Wealth Builders lifted its stake in Visa by 1.7% during the second quarter. RMR Wealth Builders now owns 17,524 shares of the credit-card processor’s stock worth $6,222,000 after purchasing an additional 290 shares during the period. 21 West Wealth Management LLC bought a new position in shares of Visa in the second quarter valued at approximately $357,000. Goldstone Financial Group LLC raised its stake in shares of Visa by 33.4% in the second quarter. Goldstone Financial Group LLC now owns 1,946 shares of the credit-card processor’s stock valued at $698,000 after acquiring an additional 487 shares during the last quarter. NBC Securities Inc. raised its stake in shares of Visa by 2.6% in the second quarter. NBC Securities Inc. now owns 27,944 shares of the credit-card processor’s stock valued at $9,921,000 after acquiring an additional 712 shares during the last quarter. Finally, Apella Capital LLC raised its stake in shares of Visa by 422.9% in the second quarter. Apella Capital LLC now owns 15,629 shares of the credit-card processor’s stock valued at $5,574,000 after acquiring an additional 12,640 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on V. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $385.96.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Price Performance

V opened at $339.33 on Monday. The company has a fifty day moving average price of $347.03 and a two-hundred day moving average price of $346.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The firm has a market capitalization of $621.92 billion, a PE ratio of 33.14, a P/E/G ratio of 2.26 and a beta of 0.92.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the business earned $2.42 EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

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.