Spartan Planning & Wealth Management Boosts Stock Position in Visa Inc. $V

Spartan Planning & Wealth Management grew its stake in shares of Visa Inc. (NYSE:V) by 7.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,360 shares of the credit-card processor’s stock after buying an additional 245 shares during the period. Visa comprises 1.0% of Spartan Planning & Wealth Management’s portfolio, making the stock its 20th biggest holding. Spartan Planning & Wealth Management’s holdings in Visa were worth $1,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Keystone Global Partners LLC bought a new position in shares of Visa in the first quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the second quarter worth $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the first quarter worth $27,000. Cranbrook Wealth Management LLC raised its position in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC raised its position in shares of Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after buying an additional 49 shares in the last quarter. 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 the firm’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 transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on V shares. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Morgan Stanley increased their price objective on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Truist Financial lowered their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. UBS Group reiterated a “buy” rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $385.96.

Visa Stock Up 2.0%

V opened at $348.21 on Thursday. The stock has a market cap of $638.20 billion, a PE ratio of 34.01, a P/E/G ratio of 2.27 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51. The business’s fifty day simple moving average is $344.09 and its 200 day simple moving average is $346.52.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. 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.