Broadway Wealth Solutions Inc. Sells 42 Shares of Visa Inc. $V

Broadway Wealth Solutions Inc. cut its stake in Visa Inc. (NYSE:V) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,186 shares of the credit-card processor’s stock after selling 42 shares during the quarter. Broadway Wealth Solutions Inc.’s holdings in Visa were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Yeomans Consulting Group Inc. grew its stake in shares of Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares during the period. Semus Wealth Partners LLC grew its stake in shares of Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after acquiring an additional 29 shares during the period. BankPlus Wealth Management LLC grew its stake in shares of Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after acquiring an additional 29 shares during the period. Kennebec Savings Bank grew its stake in shares of Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor’s stock worth $1,182,000 after acquiring an additional 30 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of Visa by 0.8% in the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor’s stock worth $1,345,000 after buying an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on V. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft began 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. Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Visa Price Performance

Shares of NYSE:V opened at $345.97 on Friday. 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 Inc. has a 1-year low of $273.24 and a 1-year high of $375.51. The company has a market capitalization of $634.09 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.06 and a beta of 0.90. The firm’s 50 day simple moving average is $343.92 and its two-hundred day simple moving average is $346.60.

Visa (NYSE:V) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 earnings per share. Research analysts expect that Visa Inc. will post 11.3 EPS 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 given a dividend of $0.59 per share. 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%.

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.