Visa Inc. $V Shares Acquired by Turning Point Benefit Group Inc.

Turning Point Benefit Group Inc. grew its stake in Visa Inc. (NYSE:V) by 7.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,657 shares of the credit-card processor’s stock after purchasing an additional 121 shares during the period. Turning Point Benefit Group Inc.’s holdings in Visa were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Planning Center Inc. lifted its holdings in shares of Visa by 2.4% in the 2nd quarter. Planning Center Inc. now owns 1,784 shares of the credit-card processor’s stock valued at $633,000 after buying an additional 42 shares during the period. Hoge Financial Services LLC lifted its holdings in shares of Visa by 11.9% in the 2nd quarter. Hoge Financial Services LLC now owns 910 shares of the credit-card processor’s stock valued at $322,000 after buying an additional 97 shares during the period. Cadinha & Co. LLC lifted its holdings in shares of Visa by 979.4% in the 2nd quarter. Cadinha & Co. LLC now owns 70,850 shares of the credit-card processor’s stock valued at $25,155,000 after buying an additional 64,286 shares during the period. KPP Advisory Services LLC lifted its holdings in shares of Visa by 12.2% in the 2nd quarter. KPP Advisory Services LLC now owns 5,030 shares of the credit-card processor’s stock valued at $1,786,000 after buying an additional 547 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its holdings in shares of Visa by 24.5% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 80,851 shares of the credit-card processor’s stock valued at $28,706,000 after buying an additional 15,893 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on V. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target for the company. Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Macquarie upped their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $392.75.

Visa Price Performance

NYSE:V opened at $347.34 on Friday. 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 stock has a 50 day moving average of $344.79 and a two-hundred day moving average of $347.87. The firm has a market cap of $636.60 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the business earned $2.42 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

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.