Drake & Associates LLC Has $282,000 Position in Visa Inc. (NYSE:V)

by · The Markets Daily

Drake & Associates LLC lessened its stake in Visa Inc. (NYSE:V – Free Report) by 54.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,026 shares of the credit-card processor’s stock after selling 1,235 shares during the quarter. Drake & Associates LLC’s holdings in Visa were worth $282,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of V. Jessup Wealth Management Inc raised its holdings in Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares in the last quarter. Cordatus Wealth Management LLC raised its stake in shares of Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after purchasing an additional 37 shares in the last quarter. Tlwm lifted its position in shares of Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after purchasing an additional 38 shares during the last quarter. Meridian Financial Partners LLC grew its stake in Visa by 0.5% in the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after purchasing an additional 38 shares in the last quarter. Finally, First National Corp MA ADV increased its holdings in Visa by 1.0% in the third quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock valued at $1,056,000 after buying an additional 38 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

V has been the subject of several research reports. Evercore ISI decreased their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Finally, Macquarie reissued an “outperform” rating and set a $300.00 price target on shares of Visa in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

Get Our Latest Report on V

Visa Stock Performance

Shares of V stock opened at $290.38 on Friday. The company has a market capitalization of $531.09 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 1.94 and a beta of 0.96. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $276.30 and its 200-day simple moving average is $272.86.

Visa (NYSE:V – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 EPS. On average, sell-side analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is owned by company insiders.

Visa Company Profile

(Free Report)

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.

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