WESPAC Advisors SoCal LLC Increases Stake in Visa Inc. $V

WESPAC Advisors SoCal LLC grew its position in shares of Visa Inc. (NYSE:V) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,294 shares of the credit-card processor’s stock after buying an additional 1,183 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Visa were worth $3,655,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after purchasing an additional 57,800 shares during the period. Precedent Wealth Partners LLC grew its stake in shares of Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after purchasing an additional 111 shares during the period. Consilium Wealth Advisory LLC acquired a new position in shares of Visa during the 2nd quarter worth $862,000. Iron Gate Global Advisors LLC grew its stake in shares of Visa by 5.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after purchasing an additional 3,484 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after purchasing an additional 955,392 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on V. Truist Financial lowered their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. Wells Fargo & Company set a $412.00 price objective on shares of Visa and gave the company an “overweight” rating in a research note on Tuesday. Finally, Robert W. Baird set a $410.00 price objective on shares of Visa and gave the company an “outperform” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $392.75.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were 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 of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated 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 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 owned by company insiders.

Visa Price Performance

Visa stock opened at $345.10 on Thursday. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The stock has a market capitalization of $632.50 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.05 and a beta of 0.90. The firm’s 50-day moving average is $344.72 and its two-hundred day moving average is $347.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (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 for the quarter, compared to analysts’ expectations of $9.82 billion. During the same period last year, the company earned $2.42 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is currently 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.