Spectrum Wealth Counsel LLC Decreases Stock Holdings in Visa Inc. (NYSE:V)

Spectrum Wealth Counsel LLC reduced its position in shares of Visa Inc. (NYSE:V) by 4.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 38,319 shares of the credit-card processor’s stock after selling 1,582 shares during the quarter. Visa makes up approximately 1.3% of Spectrum Wealth Counsel LLC’s holdings, making the stock its 23rd biggest holding. Spectrum Wealth Counsel LLC’s holdings in Visa were worth $10,058,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Visa during the 4th quarter valued at approximately $3,895,015,000. National Bank of Canada FI increased its stake in shares of Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB bought a new position in shares of Visa during the first quarter valued at approximately $511,321,000. GQG Partners LLC lifted its stake in Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after acquiring an additional 1,715,686 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Visa by 14,306.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after acquiring an additional 1,489,856 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.7 %

V stock opened at $287.35 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The stock has a market capitalization of $523.64 billion, a P/E ratio of 32.11, a P/E/G ratio of 2.01 and a beta of 0.96. The business has a fifty day moving average price of $268.29 and a 200-day moving average price of $273.24.

Visa (NYSE:V) last issued its earnings results 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 business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.16 EPS. Equities analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

Several research analysts have commented on V shares. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group lowered their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Citigroup reduced their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Morgan Stanley lowered their target price on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Compass Point initiated coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $309.81.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Visa Company 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.