Castle Rock Wealth Management LLC Has $4.27 Million Stake in Visa Inc. (NYSE:V)

Castle Rock Wealth Management LLC boosted its holdings in Visa Inc. (NYSE:V) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,480 shares of the credit-card processor’s stock after buying an additional 209 shares during the period. Visa makes up about 1.0% of Castle Rock Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Castle Rock Wealth Management LLC’s holdings in Visa were worth $4,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hilltop National Bank bought a new position in Visa during the first quarter worth about $1,212,000. Absolute Capital Management LLC acquired a new position in shares of Visa during the first quarter worth about $404,000. Davidson Capital Management Inc. grew its holdings in shares of Visa by 0.5% during the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after buying an additional 44 shares in the last quarter. Empirical Finance LLC raised its position in Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares during the last quarter. Finally, Arjuna Capital boosted its position in Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after acquiring an additional 96 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Stock Down 0.3 %

Shares of NYSE V traded down $0.75 during trading on Friday, hitting $276.72. The stock had a trading volume of 1,289,920 shares, compared to its average volume of 7,111,288. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $504.27 billion, a PE ratio of 29.67, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The firm has a fifty day moving average of $273.94 and a two-hundred day moving average of $272.75.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting 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%. During the same quarter in the previous year, the firm earned $2.16 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared 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 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is currently 22.25%.

Analyst Ratings Changes

V has been the topic of a number of recent research reports. Oppenheimer began coverage on Visa in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price on the stock. Bank of America raised their target price on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $312.04.

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.