Penobscot Wealth Management Takes Position in Visa Inc. $V

Penobscot Wealth Management bought a new stake in Visa Inc. (NYSE:V) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 666 shares of the credit-card processor’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Yeomans Consulting Group Inc. lifted its stake in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC lifted its stake in shares of Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after purchasing an additional 29 shares during the period. BankPlus Wealth Management LLC increased its position in Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after buying an additional 29 shares in the last quarter. Transcendent Capital Group LLC increased its position in Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares in the last quarter. Finally, Wood Tarver Financial Group LLC increased its position in Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock valued at $105,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated 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 $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated 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. The trade was a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of analyst reports. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a research report on Wednesday. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a research report on Wednesday. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Truist Financial reduced their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Stock Performance

Shares of V opened at $340.93 on Thursday. 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 Inc. has a one year low of $287.19 and a one year high of $375.51. The firm has a market capitalization of $624.86 billion, a P/E ratio of 33.39, a PEG ratio of 2.05 and a beta of 0.90. The business has a fifty day moving average of $344.93 and a 200 day moving average of $348.30.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.20% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. Visa’s revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio is presently 23.05%.

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.