Sound View Wealth Advisors Group LLC Has $7.42 Million Stock Holdings in Visa Inc. $V

Sound View Wealth Advisors Group LLC decreased its position in Visa Inc. (NYSE:V) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,899 shares of the credit-card processor’s stock after selling 280 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Visa were worth $7,420,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after buying an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC lifted its position in shares of Visa by 7.5% in the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after buying an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC bought a new position in shares of Visa during the 2nd quarter worth approximately $862,000. Iron Gate Global Advisors LLC boosted its stake in shares of Visa by 5.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after acquiring an additional 3,484 shares during the period. Finally, NatWest Group plc increased its holdings in shares of Visa by 43.8% during the 2nd quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock worth $16,212,000 after acquiring an additional 13,912 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,897 shares of company stock worth $8,164,561 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Visa Price Performance

NYSE:V opened at $335.91 on Monday. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50-day simple moving average is $343.52 and its 200 day simple moving average is $348.84. The firm has a market cap of $615.66 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.03 and a beta of 0.87.

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

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $0.67 per share. 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 yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Analyst Ratings Changes

V has been the subject of several research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. KeyCorp reissued an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Truist Financial reduced 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. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Barclays reissued an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $400.00.

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.