Nova Wealth Management Inc. Sells 287 Shares of Visa Inc. $V

Nova Wealth Management Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 17.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,323 shares of the credit-card processor’s stock after selling 287 shares during the quarter. Nova Wealth Management Inc.’s holdings in Visa were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. OMNI 360 Wealth Inc. boosted its position in Visa by 19.3% in the second quarter. OMNI 360 Wealth Inc. now owns 1,236 shares of the credit-card processor’s stock valued at $439,000 after buying an additional 200 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Visa by 23.2% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,515 shares of the credit-card processor’s stock valued at $1,960,000 after acquiring an additional 1,037 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Visa by 0.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 79,074 shares of the credit-card processor’s stock worth $28,075,000 after acquiring an additional 640 shares during the last quarter. Peterson Wealth Advisors LLC acquired a new position in Visa in the 2nd quarter worth about $223,000. Finally, TruWealth Advisors LLC raised its position in Visa by 17.9% in the second quarter. TruWealth Advisors LLC now owns 66,874 shares of the credit-card processor’s stock valued at $23,743,000 after purchasing an additional 10,163 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on V shares. Barclays restated an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating for the company. Jefferies Financial Group boosted their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Finally, Macquarie raised their price objective on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

Visa Price Performance

Visa stock opened at $339.33 on Friday. The stock’s 50 day moving average price is $347.03 and its two-hundred day moving average price is $346.92. The stock has a market capitalization of $621.92 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the firm earned $2.42 earnings per share. Visa’s revenue was up 14.3% on a year-over-year basis. On average, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is presently 23.05%.

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.