Prasad Wealth Partners LLC Has $1.88 Million Stake in Visa Inc. $V

Prasad Wealth Partners LLC reduced its position in shares of Visa Inc. (NYSE:V) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,303 shares of the credit-card processor’s stock after selling 85 shares during the quarter. Prasad Wealth Partners LLC’s holdings in Visa were worth $1,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Northern Trust Corp lifted its holdings in Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after purchasing an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Visa by 7.2% during 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 worth $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock worth $4,442,157,000 after purchasing an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird set a $410.00 price target on Visa and gave the stock an “outperform” rating in a report on Monday. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday. 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 note on Thursday, July 17th. Finally, UBS Group restated a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $389.00.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Monday, August 18th. The stock was 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. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This represents 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.

Visa Trading Down 1.0%

Shares of V opened at $343.63 on Friday. Visa Inc. has a 52-week low of $275.37 and a 52-week high of $375.51. The business’s fifty day moving average is $343.77 and its 200-day moving average is $346.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $629.79 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.06 and a beta of 0.90.

Visa (NYSE:V) last issued 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. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the company posted $2.42 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid 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%.

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.