Visa Inc. (NYSE:V) Holdings Lifted by Altus Wealth Group LLC

Altus Wealth Group LLC increased its holdings in Visa Inc. (NYSE:V) by 3.2% in the 3rd quarter, Holdings Channel reports. The fund owned 7,035 shares of the credit-card processor’s stock after purchasing an additional 218 shares during the period. Altus Wealth Group LLC’s holdings in Visa were worth $1,934,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Jessup Wealth Management Inc grew its holdings in shares of Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares in the last quarter. Cordatus Wealth Management LLC boosted its position in Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after purchasing an additional 37 shares during the last quarter. KMG Fiduciary Partners LLC grew its stake in Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares in the last quarter. Tlwm increased its position in Visa by 0.7% in the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after purchasing an additional 38 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its stake in shares of Visa by 0.5% during the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after purchasing an additional 38 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Visa Trading Down 0.4 %

Shares of V opened at $283.76 on Thursday. The stock’s 50-day moving average price is $278.40 and its 200 day moving average price is $273.10. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $517.10 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 1.96 and a beta of 0.96. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.16 earnings per share. As a group, research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on V shares. Jefferies Financial Group lowered their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Piper Sandler dropped their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Bank of America lifted their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada cut their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

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.