Abacus Wealth Partners LLC Acquires 295 Shares of Visa Inc. (NYSE:V)

Abacus Wealth Partners LLC grew its position in shares of Visa Inc. (NYSE:V) by 21.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,677 shares of the credit-card processor’s stock after buying an additional 295 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Visa were worth $461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jessup Wealth Management Inc increased its position in shares of Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the period. Cordatus Wealth Management LLC increased its stake in Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after purchasing an additional 37 shares in the last quarter. Garden State Investment Advisory Services LLC increased its stake in Visa by 1.8% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after purchasing an additional 38 shares in the last quarter. Tlwm grew its holdings in shares of Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after buying an additional 38 shares during the last quarter. Finally, Meridian Financial Partners LLC grew its holdings in shares of Visa by 0.5% during the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after buying an additional 38 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on V. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. BMO Capital Markets boosted their price target on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. Macquarie reissued an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Friday, September 27th. Finally, Jefferies Financial Group cut their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $312.04.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on 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 directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Visa Trading Down 0.1 %

NYSE V opened at $276.86 on Friday. The firm has a 50 day simple moving average of $272.63 and a 200-day simple moving average of $273.12. 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 one year low of $228.03 and a one year high of $293.07. The firm has a market cap of $506.36 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate 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 was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.16 EPS. Equities research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 23.24%.

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.