Schaper Benz & Wise Investment Counsel Inc. WI Sells 5,358 Shares of Visa Inc. $V

Schaper Benz & Wise Investment Counsel Inc. WI lessened its stake in shares of Visa Inc. (NYSE:V) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,301 shares of the credit-card processor’s stock after selling 5,358 shares during the quarter. Visa comprises approximately 1.8% of Schaper Benz & Wise Investment Counsel Inc. WI’s holdings, making the stock its 18th largest position. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Visa were worth $22,830,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in V. Keystone Global Partners LLC acquired a new stake in shares of Visa in the first quarter worth $26,000. Family Legacy Financial Solutions LLC acquired a new position in Visa during the 2nd quarter worth $28,000. von Borstel & Associates Inc. acquired a new position in Visa during the 1st quarter worth $27,000. Harbor Asset Planning Inc. bought a new stake in Visa during the second quarter valued at about $29,000. Finally, Cranbrook Wealth Management LLC grew its position in shares of 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 purchasing an additional 41 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 0.4%

Shares of V stock opened at $347.34 on Friday. The stock has a market cap of $636.60 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.05 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 $344.79 and a 200 day moving average price of $347.87. 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 announced 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 net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’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 sale, 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. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on V shares. Morgan Stanley boosted their price objective on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Truist Financial lowered their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday. Finally, Raymond James Financial reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $392.75.

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.