Circle Wealth Management LLC Sells 2,520 Shares of Visa Inc. (NYSE:V)

Circle Wealth Management LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 31.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,392 shares of the credit-card processor’s stock after selling 2,520 shares during the period. Circle Wealth Management LLC’s holdings in Visa were worth $1,415,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in shares of Visa during the fourth quarter worth $25,000. Westend Capital Management LLC bought a new position in Visa in the first quarter valued at $25,000. POM Investment Strategies LLC grew its position in Visa by 970.0% in 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 Visa in the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC grew its position in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $284.77 on Friday. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $270.65 and a two-hundred day simple moving average of $273.45. The stock has a market capitalization of $520.83 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the company earned $2.16 EPS. The business’s revenue was up 9.6% on a year-over-year basis. Analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Evercore ISI decreased their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Piper Sandler decreased their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group decreased their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $310.22.

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.