Visa Inc. $V Stock Position Reduced by Heirloom Wealth Management

Heirloom Wealth Management cut its position in shares of Visa Inc. (NYSE:V) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,826 shares of the credit-card processor’s stock after selling 197 shares during the period. Visa makes up 6.5% of Heirloom Wealth Management’s holdings, making the stock its 5th biggest holding. Heirloom Wealth Management’s holdings in Visa were worth $24,437,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Keystone Global Partners LLC purchased a new position in Visa during the first quarter worth about $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa during the second quarter worth about $28,000. von Borstel & Associates Inc. purchased a new position in Visa during the first quarter worth about $27,000. Harbor Asset Planning Inc. purchased a new position in Visa during the second quarter worth about $29,000. Finally, Cranbrook Wealth Management LLC raised its stake in shares of Visa by 82.0% in the 2nd 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 period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 0.1%

Shares of V stock opened at $347.71 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $637.28 billion, a P/E ratio of 33.96, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The company has a 50 day moving average price of $344.89 and a 200 day moving average price of $348.09. Visa Inc. has a fifty-two week low of $281.35 and a fifty-two week high of $375.51.

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

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on V shares. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, 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 note on Thursday, July 31st. Four 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 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 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.