Rede Wealth LLC Raises Holdings in Visa Inc. (NYSE:V)

Rede Wealth LLC increased its stake in shares of Visa Inc. (NYSE:V) by 1.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,395 shares of the credit-card processor’s stock after buying an additional 44 shares during the quarter. Rede Wealth LLC’s holdings in Visa were worth $659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hilltop National Bank purchased a new stake in shares of Visa during the first quarter worth about $1,212,000. Absolute Capital Management LLC purchased a new position in shares of Visa during the 1st quarter worth $404,000. Davidson Capital Management Inc. boosted 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 purchasing an additional 44 shares during the last quarter. Empirical Finance LLC grew its position in shares of Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares during the period. Finally, Arjuna Capital increased its stake in Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Citigroup lowered their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Piper Sandler lowered their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $322.00 target price on shares of Visa in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Price Performance

V opened at $290.62 on Monday. The company has a market capitalization of $531.53 billion, a P/E ratio of 32.47, a PEG ratio of 2.00 and a beta of 0.96. The company has a 50-day moving average of $276.91 and a 200-day moving average of $272.88. 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 1-year low of $228.03 and a 1-year high of $293.07.

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

Visa Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.