Avidian Wealth Enterprises LLC Raises Stock Holdings in Visa Inc. $V

Avidian Wealth Enterprises LLC raised its position in shares of Visa Inc. (NYSE:V) by 6.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,317 shares of the credit-card processor’s stock after purchasing an additional 487 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Visa were worth $2,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Yeomans Consulting Group Inc. boosted its holdings in shares of Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares during the period. Semus Wealth Partners LLC boosted its holdings in shares of Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after acquiring an additional 29 shares during the period. BankPlus Wealth Management LLC boosted its holdings in shares of Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after acquiring an additional 29 shares during the period. Transcendent Capital Group LLC boosted its holdings in shares of Visa by 2.9% in the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares during the period. Finally, Wood Tarver Financial Group LLC boosted its holdings in shares of Visa by 11.1% in the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock worth $105,000 after acquiring an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on V shares. Wells Fargo & Company set a $412.00 price target on Visa and gave the stock an “overweight” rating in a report on Tuesday. UBS Group reissued a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Finally, Barclays reissued an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $392.75.

Visa Trading Down 0.6%

NYSE V opened at $345.10 on Thursday. The stock’s 50-day simple moving average is $344.72 and its two-hundred day simple moving average is $347.09. Visa Inc. has a twelve month low of $280.78 and a twelve month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $632.50 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.05 and a beta of 0.90.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the business posted $2.42 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal 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 given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.