Innova Wealth Partners Boosts Stock Holdings in Visa Inc. $V

Innova Wealth Partners raised its holdings in shares of Visa Inc. (NYSE:V) by 6.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,107 shares of the credit-card processor’s stock after acquiring an additional 64 shares during the period. Innova Wealth Partners’ holdings in Visa were worth $393,000 at the end of the most recent quarter.

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

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Trading Up 1.9%

Shares of Visa stock opened at $341.90 on Friday. The company’s fifty day simple moving average is $344.30 and its 200-day simple moving average is $346.83. The stock has a market capitalization of $626.63 billion, a PE ratio of 33.39, a P/E/G ratio of 2.02 and a beta of 0.90. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $2.42 EPS. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s payout ratio is 23.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Robert W. Baird set a $410.00 price target on shares of Visa and gave the stock an “outperform” rating in a research note on Monday, October 6th. Macquarie increased their price target on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Oppenheimer increased their price target on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. UBS Group reaffirmed a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $389.00.

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.