Jackson Wealth Management LLC Cuts Stock Holdings in Visa Inc. (NYSE:V)

Jackson Wealth Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 35.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,204 shares of the credit-card processor’s stock after selling 4,962 shares during the quarter. Jackson Wealth Management LLC’s holdings in Visa were worth $2,416,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of V. Livelsberger Financial Advisory purchased a new stake in shares of Visa during the fourth quarter worth $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the first quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the fourth quarter worth $32,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth $33,000. Finally, Abich Financial Wealth Management LLC increased its position in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

Visa Stock Performance

Shares of V traded up $0.65 during mid-day trading on Friday, hitting $266.58. 7,017,857 shares of the company’s stock were exchanged, compared to its average volume of 7,476,283. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The firm has a market capitalization of $487.56 billion, a P/E ratio of 29.79, a P/E/G ratio of 1.88 and a beta of 0.95. The business’s 50 day moving average is $268.91 and its two-hundred day moving average is $274.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its earnings results 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 the consensus estimate of $8.92 billion. During the same quarter in the prior year, the firm earned $2.16 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. Visa’s payout ratio is currently 23.24%.

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. UBS Group increased their target price on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Robert W. Baird increased their target price on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. TD Cowen dropped their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $307.25.

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.