Bartlett & CO. Wealth Management LLC Has $9.20 Million Holdings in Visa Inc. $V

Bartlett & CO. Wealth Management LLC increased its holdings in Visa Inc. (NYSE:V) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,909 shares of the credit-card processor’s stock after acquiring an additional 555 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Visa were worth $9,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nuveen LLC purchased a new stake in Visa in the 1st quarter valued at about $3,518,533,000. Vanguard Group Inc. increased its stake in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Wellington Management Group LLP increased its stake in Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after buying an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in Visa in the 1st quarter valued at about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 1.1%

V opened at $349.90 on Friday. The company has a 50 day moving average of $343.78 and a 200 day moving average of $346.70. The company has a market cap of $641.29 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. Visa Inc. has a 12 month low of $273.24 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 announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $9.82 billion. During the same period last year, the firm earned $2.42 EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value 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 $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. 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 note on Wednesday, July 30th. Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $385.96.

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.