LJI Wealth Management LLC Reduces Stake in Visa Inc. $V

LJI Wealth Management LLC lowered its holdings in Visa Inc. (NYSE:V) by 7.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,312 shares of the credit-card processor’s stock after selling 100 shares during the period. LJI Wealth Management LLC’s holdings in Visa were worth $466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of V. Keystone Global Partners LLC purchased a new stake in Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new stake in Visa in the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa in the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa in the 2nd quarter worth approximately $29,000. Finally, Cranbrook Wealth Management LLC raised its position in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on V. KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Robert W. Baird set a $410.00 target price on Visa and gave the stock an “outperform” rating in a research report on Monday, October 6th. Oppenheimer increased 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. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Barclays reissued an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $392.75.

Insider Buying and Selling

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 value of $697,328.54. Following the completion of the sale, the general counsel 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa 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 completion of the sale, 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 position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Stock Up 0.4%

V stock opened at $347.34 on Monday. Visa Inc. has a twelve month low of $280.78 and a twelve month high of $375.51. 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 firm has a market cap of $636.60 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The business has a 50 day moving average of $344.79 and a 200 day moving average of $347.98.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the company earned $2.42 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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