Wellington Shields & Co. LLC Acquires 1,226 Shares of Visa Inc. (NYSE:V)

Wellington Shields & Co. LLC raised its stake in Visa Inc. (NYSE:V) by 9.3% during the second quarter, HoldingsChannel reports. The fund owned 14,346 shares of the credit-card processor’s stock after buying an additional 1,226 shares during the period. Visa comprises approximately 1.2% of Wellington Shields & Co. LLC’s holdings, making the stock its 15th largest position. Wellington Shields & Co. LLC’s holdings in Visa were worth $3,765,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of V. Livelsberger Financial Advisory bought a new position in Visa in the 4th quarter worth $25,000. Westend Capital Management LLC purchased a new stake in Visa in the 1st quarter worth approximately $25,000. POM Investment Strategies LLC lifted its holdings in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Visa in the fourth quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC increased its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler decreased their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. TD Cowen cut their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Citigroup decreased their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Bank of America reaffirmed a “neutral” rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Finally, Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $309.54.

Visa Stock Down 0.1 %

NYSE:V opened at $285.34 on Wednesday. The company has a market capitalization of $519.98 billion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. The stock has a 50-day simple moving average of $267.32 and a 200 day simple moving average of $273.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a one year low of $227.78 and a one year high of $290.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 EPS. Sell-side analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.73%. Visa’s dividend payout ratio is currently 23.24%.

About Visa

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.