Founders Grove Wealth Partners LLC Has $1.04 Million Stock Holdings in Visa Inc. $V

Founders Grove Wealth Partners LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 10.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,937 shares of the credit-card processor’s stock after selling 337 shares during the quarter. Founders Grove Wealth Partners LLC’s holdings in Visa were worth $1,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Brighton Jones LLC grew its holdings in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the period. GAMMA Investing LLC boosted its position in shares of Visa by 9.9% in the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock valued at $14,761,000 after acquiring an additional 3,795 shares during the period. Global X Japan Co. Ltd. bought a new stake in shares of Visa in the first quarter valued at approximately $56,000. Finally, Sterling Investment Counsel LLC boosted its position in shares of Visa by 191.1% in the first quarter. Sterling Investment Counsel LLC now owns 12,414 shares of the credit-card processor’s stock valued at $4,351,000 after acquiring an additional 8,150 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The shares were 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 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 currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on V. Morgan Stanley increased their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Robert W. Baird set a $410.00 price objective on Visa and gave the company an “outperform” rating in a research report on Monday, October 6th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Truist Financial reduced their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Finally, Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Visa Stock Up 1.9%

Shares of V stock opened at $341.90 on Friday. The stock has a market cap of $626.63 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 1.99 and a beta of 0.90. Visa Inc. has a one year low of $280.78 and a one year high of $375.51. The stock has a fifty day moving average price of $344.30 and a 200 day moving average price of $346.83. 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 (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during 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 business’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the business earned $2.42 earnings per share. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 presently 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.