WT Wealth Management Sells 1,053 Shares of Visa Inc. (NYSE:V)

WT Wealth Management decreased its holdings in shares of Visa Inc. (NYSE:V) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,425 shares of the credit-card processor’s stock after selling 1,053 shares during the period. WT Wealth Management’s holdings in Visa were worth $2,739,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the period. Abich Financial Wealth Management LLC boosted its position in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares in the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa during the 2nd quarter worth approximately $35,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Visa in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group dropped their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Oppenheimer initiated coverage on shares of Visa in a report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price on the stock. Citigroup decreased their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Finally, Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.19.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

NYSE V opened at $284.88 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The stock has a market capitalization of $521.03 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.00 and a beta of 0.96. The business’s fifty day moving average price is $277.95 and its 200-day moving average price is $273.02.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 earnings per share. On average, equities analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

About Visa

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.