Visa Inc. $V Position Increased by Chokshi & Queen Wealth Advisors Inc

Chokshi & Queen Wealth Advisors Inc lifted its holdings in shares of Visa Inc. (NYSE:V) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,113 shares of the credit-card processor’s stock after acquiring an additional 720 shares during the quarter. Visa accounts for about 2.5% of Chokshi & Queen Wealth Advisors Inc’s investment portfolio, making the stock its 8th biggest position. Chokshi & Queen Wealth Advisors Inc’s holdings in Visa were worth $4,301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the first quarter worth about $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter worth about $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the second quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new stake in Visa in the second quarter valued at about $29,000. Finally, Cranbrook Wealth Management LLC increased its holdings 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 buying an additional 41 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the 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 of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred 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 completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade 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.

Wall Street Analyst Weigh In

Several analysts recently weighed in on V shares. Barclays reissued an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Oppenheimer boosted their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft started coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $392.75.

Visa Stock Performance

Shares of V stock opened at $345.82 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $344.73 and a two-hundred day moving average of $347.33. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The company has a market cap of $633.81 billion, a P/E ratio of 33.77, a PEG ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 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 company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the previous year, the firm posted $2.42 earnings per share. Visa’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Visa Company 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.