RWA Wealth Partners LLC Decreases Stock Position in Visa Inc. $V

RWA Wealth Partners LLC cut its holdings in Visa Inc. (NYSE:V) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,276 shares of the credit-card processor’s stock after selling 2,178 shares during the quarter. Visa accounts for approximately 0.7% of RWA Wealth Partners LLC’s holdings, making the stock its 18th largest position. RWA Wealth Partners LLC’s holdings in Visa were worth $59,036,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Keystone Global Partners LLC bought a new stake in Visa in the 1st quarter worth about $26,000. Family Legacy Financial Solutions LLC bought a new position in Visa during the 2nd quarter valued at about $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa during the 2nd quarter valued at about $29,000. Cranbrook Wealth Management LLC boosted its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the last quarter. Finally, Hoese & Co LLP bought a new stake in shares of Visa in the second quarter worth approximately $36,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred 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 sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% 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 valued at $8,164,561 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 0.3%

Shares of Visa stock opened at $335.91 on Friday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company’s fifty day simple moving average is $343.52 and its 200-day simple moving average is $348.74. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. The stock has a market capitalization of $615.66 billion, a PE 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 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $2.71 EPS. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

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

Wall Street Analyst Weigh In

V has been the topic of a number of research analyst reports. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday, October 29th. 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, October 29th. KeyCorp restated an “overweight” rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Finally, Barclays reiterated an “overweight” rating and set a $408.00 price objective (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, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

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.