Highline Wealth Partners LLC Purchases 108 Shares of Visa Inc. $V

Highline Wealth Partners LLC grew its stake in shares of Visa Inc. (NYSE:V) by 44.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350 shares of the credit-card processor’s stock after acquiring an additional 108 shares during the quarter. Highline Wealth Partners LLC’s holdings in Visa were worth $124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in V. Kendall Capital Management grew its holdings in Visa by 6.3% in the second quarter. Kendall Capital Management now owns 625 shares of the credit-card processor’s stock valued at $222,000 after purchasing an additional 37 shares during the period. Meridian Investment Counsel Inc. acquired a new stake in shares of Visa in the second quarter valued at $237,000. Cove Private Wealth LLC raised its holdings in shares of Visa by 2.9% in the 2nd quarter. Cove Private Wealth LLC now owns 11,432 shares of the credit-card processor’s stock valued at $4,059,000 after purchasing an additional 320 shares in the last quarter. Patton Fund Management Inc. acquired a new stake in Visa during the 2nd quarter worth $233,000. Finally, Kathmere Capital Management LLC increased its position in Visa by 9.1% during the second quarter. Kathmere Capital Management LLC now owns 14,720 shares of the credit-card processor’s stock worth $5,226,000 after buying an additional 1,233 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Morgan Stanley lifted their target price on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Oppenheimer upped 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. One 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Visa Stock Up 0.7%

Shares of V stock opened at $337.15 on Monday. The stock has a market cap of $617.93 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The stock has a fifty day moving average price of $344.65 and a 200 day moving average price of $346.48. Visa Inc. has a one year low of $272.78 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm posted $2.42 EPS. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $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 Company 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.