Tuttle Capital Management LLC Purchases 252 Shares of Visa Inc. $V

Tuttle Capital Management LLC boosted its position in shares of Visa Inc. (NYSE:V) by 14.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,953 shares of the credit-card processor’s stock after buying an additional 252 shares during the period. Visa makes up approximately 2.9% of Tuttle Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Tuttle Capital Management LLC’s holdings in Visa were worth $693,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Yeomans Consulting Group Inc. grew its stake in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after buying an additional 29 shares in the last quarter. Semus Wealth Partners LLC lifted its holdings 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 last quarter. BankPlus Wealth Management LLC lifted its holdings 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 last quarter. Transcendent Capital Group LLC lifted its holdings in shares of Visa by 2.9% in the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares during the last quarter. Finally, Wood Tarver Financial Group LLC lifted its holdings in shares of Visa by 11.1% in the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock worth $105,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In related news, 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 completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction 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 completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Stock Up 1.9%

Shares of NYSE V opened at $341.90 on Friday. The company has a 50 day simple moving average of $344.30 and a 200 day simple moving average of $346.83. The firm has a market cap of $626.63 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90. Visa Inc. has a 1 year low of $280.78 and a 1 year high of $375.51. 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 released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $9.82 billion. During the same quarter last year, the business earned $2.42 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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 of this dividend 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 23.05%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays reissued an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Macquarie increased their target price on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

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.