Benchmark Financial Wealth Advisors LLC Sells 116 Shares of Visa Inc. (NYSE:V)

Benchmark Financial Wealth Advisors LLC lowered its position in Visa Inc. (NYSE:V) by 3.3% in the 2nd quarter, Holdings Channel reports. The firm owned 3,379 shares of the credit-card processor’s stock after selling 116 shares during the quarter. Benchmark Financial Wealth Advisors LLC’s holdings in Visa were worth $887,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Nadler Financial Group Inc. increased its position in shares of Visa by 2.4% during the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after acquiring an additional 44 shares during the period. Hilltop National Bank purchased a new position in Visa during the first quarter valued at approximately $1,212,000. TCI Wealth Advisors Inc. increased its holdings in Visa by 0.8% during the fourth quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after buying an additional 40 shares during the period. Absolute Capital Management LLC purchased a new position in Visa during the first quarter valued at approximately $404,000. Finally, Vantage Investment Partners LLC increased its holdings in Visa by 45.3% during the fourth quarter. Vantage Investment Partners LLC now owns 30,044 shares of the credit-card processor’s stock valued at $7,822,000 after buying an additional 9,366 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock traded down $0.97 during mid-day trading on Thursday, hitting $267.23. 1,388,345 shares of the stock were exchanged, compared to its average volume of 7,181,417. The company has a market cap of $488.75 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. The firm has a fifty day moving average of $266.06 and a 200 day moving average of $273.40. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 earnings per share. Research analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on V. Wedbush lifted their price objective on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Morgan Stanley cut their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Piper Sandler cut their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. TD Cowen cut their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Royal Bank of Canada cut their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $308.50.

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.