Topsail Wealth Management LLC Sells 56 Shares of Visa Inc. $V

Topsail Wealth Management LLC lowered its stake in Visa Inc. (NYSE:V) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,977 shares of the credit-card processor’s stock after selling 56 shares during the period. Visa makes up 0.5% of Topsail Wealth Management LLC’s holdings, making the stock its 23rd biggest holding. Topsail Wealth Management LLC’s holdings in Visa were worth $2,477,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Keystone Global Partners LLC bought a new position in shares of Visa in the first quarter worth $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa in the first quarter worth $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the second quarter worth $28,000. Harbor Asset Planning Inc. bought a new position in Visa in the second quarter valued at about $29,000. Finally, Cranbrook Wealth Management LLC grew its position in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $347.51 on Wednesday. The stock has a market cap of $636.92 billion, a P/E ratio of 33.94, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. 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’s 50-day moving average is $344.99 and its 200-day moving average is $348.25. Visa Inc. has a 1-year low of $281.35 and a 1-year high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.71 earnings per share. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Robert W. Baird set a $410.00 target price on Visa and gave the company an “outperform” rating in a research report on Monday, October 6th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Morgan Stanley lifted their target price on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Finally, KeyCorp reiterated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $392.75.

Insider Activity

In other 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 transaction 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. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.