Solidarity Wealth LLC Trims Stake in Visa Inc. $V

Solidarity Wealth LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 3.9% during the second quarter, Holdings Channel.com reports. The firm owned 44,726 shares of the credit-card processor’s stock after selling 1,836 shares during the period. Visa accounts for about 3.7% of Solidarity Wealth LLC’s portfolio, making the stock its 8th largest position. Solidarity Wealth LLC’s holdings in Visa were worth $15,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the 1st quarter valued at about $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa during the second quarter worth approximately $28,000. Harbor Asset Planning Inc. bought a new stake in Visa during the second quarter worth approximately $29,000. Bare Financial Services Inc raised its position in Visa by 287.0% during the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 66 shares during the period. Finally, Cranbrook Wealth Management LLC raised its position in Visa by 82.0% during 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 period. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lloyd Carney sold 900 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 24,042 shares of company stock valued at $8,175,152 in the last three months. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. UBS Group set a $425.00 price objective on shares of Visa and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Visa Price Performance

V opened at $334.67 on Monday. The business has a fifty day moving average of $339.68 and a 200 day moving average of $347.15. The stock has a market cap of $609.67 billion, a P/E ratio of 32.78, a PEG ratio of 1.98 and a beta of 0.82. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52-week low of $299.00 and a 52-week 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 analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is 26.25%.

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.