ACT Wealth Management LLC Increases Holdings in Visa Inc. $V

ACT Wealth Management LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 16.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,743 shares of the credit-card processor’s stock after acquiring an additional 393 shares during the quarter. Visa comprises 0.4% of ACT Wealth Management LLC’s holdings, making the stock its 21st largest holding. ACT Wealth Management LLC’s holdings in Visa were worth $974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Brighton Jones LLC increased its stake in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Tremblant Capital Group increased its stake in Visa by 14.8% during the fourth quarter. Tremblant Capital Group now owns 8,116 shares of the credit-card processor’s stock worth $2,565,000 after acquiring an additional 1,044 shares during the last quarter. St. Clair Advisors LLC acquired a new stake in Visa during the fourth quarter worth $816,000. Finally, Wimmer Associates 1 LLC increased its stake in Visa by 0.4% during the fourth quarter. Wimmer Associates 1 LLC now owns 21,083 shares of the credit-card processor’s stock worth $6,663,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective for the company. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Morgan Stanley lifted their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $385.96.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’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 transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 0.1%

NYSE:V opened at $338.96 on Tuesday. The firm has a market cap of $621.24 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92. The stock has a fifty day moving average price of $346.67 and a 200 day moving average price of $346.69. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $2.42 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is 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.