Connecticut Wealth Management LLC lifted its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,722 shares of the credit-card processor’s stock after buying an additional 284 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Visa were worth $733,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Landmark Wealth Management LLC acquired a new stake in Visa in the 1st quarter valued at $32,000. Rise Advisors LLC acquired a new stake in Visa in the 4th quarter valued at $35,000. Monumental Financial Group Inc. acquired a new stake in Visa in the 1st quarter valued at $35,000. James Investment Research Inc. grew its position in Visa by 1,400.0% in the 1st quarter. James Investment Research Inc. now owns 180 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 168 shares during the period. Finally, Rather & Kittrell Inc. acquired a new stake in Visa in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 81.49% of the company’s stock.
Insider Buying and Selling
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $212.11, for a total value of $1,908,990.00. Following the completion of the sale, the chief executive officer now owns 156,887 shares of the company’s stock, valued at approximately $33,277,301.57. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several analysts recently issued reports on V shares. UBS Group lifted their price target on shares of Visa from $292.00 to $296.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Morgan Stanley raised their price objective on Visa from $284.00 to $291.00 and gave the company an “overweight” rating in a research note on Wednesday, July 27th. Wells Fargo & Company dropped their price objective on Visa from $280.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Truist Financial dropped their price objective on Visa from $275.00 to $250.00 in a research note on Thursday, June 30th. Finally, Royal Bank of Canada dropped their price objective on Visa from $278.00 to $262.00 in a research note on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.64.
Visa Trading Down 2.6 %
Shares of V opened at $187.02 on Thursday. The business has a 50-day moving average of $206.70 and a 200 day moving average of $207.03. Visa Inc. has a fifty-two week low of $185.91 and a fifty-two week high of $236.96. The firm has a market cap of $353.55 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43.
Visa Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.80%. The ex-dividend date was Thursday, August 11th. Visa’s dividend payout ratio (DPR) is currently 22.12%.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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