Imprint Wealth LLC bought a new position in shares of Visa Inc. (NYSE:V – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 176,157 shares of the credit-card processor’s stock, valued at approximately $17,616,000. Visa makes up 0.7% of Imprint Wealth LLC’s investment portfolio, making the stock its 13th biggest position.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Tower Group LLC bought a new position in Visa during the second quarter valued at $30,000. Financial Freedom LLC purchased a new stake in Visa during the fourth quarter valued at approximately $32,000. Kalos Management Inc. bought a new stake in shares of Visa in the 1st quarter valued at approximately $40,000. Moisand Fitzgerald Tamayo LLC boosted its holdings in shares of Visa by 666.7% in the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock worth $52,000 after purchasing an additional 200 shares during the period. Finally, Northwest Bank & Trust Co bought a new position in shares of Visa during the 2nd quarter valued at approximately $64,000. Institutional investors own 81.35% of the company’s stock.
Insider Buying and Selling
In other news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $247.47, for a total value of $2,016,880.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total value of $9,445,600.00. Following the completion of the transaction, the chairman now directly owns 139,854 shares of the company’s stock, valued at $33,025,123.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,100 shares of company stock worth $17,368,639. 0.22% of the stock is owned by company insiders.
Visa Stock Down 0.5 %
Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The credit-card processor reported $2.33 EPS for the quarter, beating the consensus estimate of $2.23 by $0.10. The firm had revenue of $8.61 billion during the quarter, compared to analyst estimates of $8.56 billion. Visa had a net margin of 52.90% and a return on equity of 50.13%. Visa’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $1.93 EPS. On average, analysts forecast that Visa Inc. will post 9.9 EPS for the current year.
Visa Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.84%. This is a positive change from Visa’s previous quarterly dividend of $0.45. Visa’s dividend payout ratio is currently 25.09%.
Analyst Ratings Changes
V has been the subject of several recent analyst reports. Raymond James lifted their price objective on shares of Visa from $284.00 to $287.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Truist Financial boosted their target price on Visa from $270.00 to $275.00 in a research report on Wednesday, July 26th. HSBC initiated coverage on Visa in a report on Friday, October 13th. They issued a “hold” rating and a $266.00 price target on the stock. Oppenheimer boosted their price objective on Visa from $248.00 to $252.00 and gave the company an “outperform” rating in a report on Wednesday, October 18th. Finally, Wells Fargo & Company lifted their target price on Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.67.
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.
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