Bridgewealth Advisory Group LLC Makes New Investment in Visa Inc. $V

Bridgewealth Advisory Group LLC purchased a new position in shares of Visa Inc. (NYSE:V) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,081 shares of the credit-card processor’s stock, valued at approximately $384,000.

A number of other hedge funds have also made changes to their positions in the business. Linscomb Wealth Inc. increased its holdings in shares of Visa by 0.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 40,162 shares of the credit-card processor’s stock valued at $14,259,000 after acquiring an additional 158 shares during the last quarter. Creekmur Asset Management LLC increased its holdings in shares of Visa by 39.6% in the 2nd quarter. Creekmur Asset Management LLC now owns 4,966 shares of the credit-card processor’s stock valued at $1,763,000 after acquiring an additional 1,408 shares during the last quarter. Amplius Wealth Advisors LLC increased its holdings in shares of Visa by 26.7% in the 2nd quarter. Amplius Wealth Advisors LLC now owns 2,923 shares of the credit-card processor’s stock valued at $1,038,000 after acquiring an additional 616 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Visa by 5.2% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 33,629 shares of the credit-card processor’s stock valued at $11,944,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Buckhead Capital Management LLC increased its holdings in shares of Visa by 1.4% in the 2nd quarter. Buckhead Capital Management LLC now owns 14,466 shares of the credit-card processor’s stock valued at $5,136,000 after acquiring an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 1.1%

NYSE:V opened at $341.07 on Monday. The stock’s 50 day moving average price is $344.78 and its 200 day moving average price is $348.52. The company has a market capitalization of $625.11 billion, a PE ratio of 33.41, a P/E/G ratio of 2.03 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52-week low of $287.19 and a 52-week high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the firm earned $2.71 EPS. On average, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s payout ratio is presently 23.11%.

Analysts Set New Price Targets

V has been the topic of a number of recent analyst reports. Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 price objective (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. UBS Group set a $425.00 price target on Visa and gave the stock a “buy” rating in a research note on Wednesday. Finally, Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.