Visa Inc. $V Stake Boosted by Buck Wealth Strategies LLC

Buck Wealth Strategies LLC grew its stake in shares of Visa Inc. (NYSE:V) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,302 shares of the credit-card processor’s stock after purchasing an additional 2,960 shares during the quarter. Visa makes up 1.6% of Buck Wealth Strategies LLC’s portfolio, making the stock its 24th largest holding. Buck Wealth Strategies LLC’s holdings in Visa were worth $10,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after acquiring an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock worth $4,442,157,000 after purchasing an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

NYSE V opened at $341.07 on Friday. The stock’s 50-day moving average price is $344.78 and its two-hundred day moving average price is $348.31. The company has a market cap of $625.11 billion, a PE ratio of 33.41, a PEG ratio of 2.06 and a beta of 0.90. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1 year low of $287.19 and a 1 year high of $375.51.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the firm posted $2.71 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is currently 23.11%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays reiterated an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Finally, Macquarie lowered their price target on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday. 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’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated 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 in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. 0.13% of the stock is owned by corporate insiders.

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.