Balboa Wealth Partners Acquires 401 Shares of Visa Inc. $V

Balboa Wealth Partners raised its position in shares of Visa Inc. (NYSE:V) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,920 shares of the credit-card processor’s stock after purchasing an additional 401 shares during the quarter. Balboa Wealth Partners’ holdings in Visa were worth $2,102,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Visa by 9.9% in the 1st quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock valued at $14,761,000 after purchasing an additional 3,795 shares during the last quarter. Figure 8 Investment Strategies LLC raised its position in shares of Visa by 1.0% in the 1st quarter. Figure 8 Investment Strategies LLC now owns 8,624 shares of the credit-card processor’s stock valued at $3,022,000 after purchasing an additional 83 shares during the last quarter. Finally, Narwhal Capital Management raised its position in Visa by 6.4% during the 1st quarter. Narwhal Capital Management now owns 52,609 shares of the credit-card processor’s stock worth $18,437,000 after buying an additional 3,177 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V stock opened at $345.10 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50 day simple moving average of $344.72 and a 200-day simple moving average of $347.09. Visa Inc. has a twelve month low of $280.78 and a twelve month high of $375.51. The company has a market capitalization of $632.50 billion, a P/E ratio of 33.70, a PEG ratio of 2.05 and a beta of 0.90.

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

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given 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 dividend payout ratio (DPR) is currently 23.05%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on V shares. KeyCorp reaffirmed an “overweight” rating and set a $405.00 target price on shares of Visa in a report on Wednesday. Macquarie boosted their price target on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Citigroup initiated coverage on shares of Visa in a research report on Wednesday. They set a “buy” rating and a $450.00 price target on the stock. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $392.75.

Insiders Place Their Bets

In related news, 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 completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 sale, the chief executive officer owned 537 shares of the company’s stock, 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.

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.