RMG Wealth Management LLC Invests $52,000 in Visa Inc. $V

RMG Wealth Management LLC acquired a new position in shares of Visa Inc. (NYSE:V) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 150 shares of the credit-card processor’s stock, valued at approximately $52,000.

Other large investors also recently bought and sold shares of the company. Keystone Global Partners LLC purchased a new stake in shares of Visa in the 1st quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the 2nd quarter valued at approximately $28,000. von Borstel & Associates Inc. purchased a new position in Visa in the first quarter valued at $27,000. Cranbrook Wealth Management LLC increased its holdings in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC increased its holdings in Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock valued at $38,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $697,328.54. Following the completion of the transaction, 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 disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 1.0%

NYSE:V opened at $343.63 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.06 and a beta of 0.90. The stock’s 50 day moving average price is $343.77 and its 200 day moving average price is $346.97. Visa Inc. has a 52-week low of $275.37 and a 52-week high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates 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 period last year, the firm posted $2.42 earnings per share. On average, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on V. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. Robert W. Baird set a $410.00 price target on shares of Visa and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley increased their price target on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. UBS Group reiterated a “buy” rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $389.00.

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.