Connecticut Wealth Management LLC Acquires 431 Shares of Visa Inc. (NYSE:V)

Connecticut Wealth Management LLC increased its stake in Visa Inc. (NYSE:V) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,509 shares of the credit-card processor’s stock after purchasing an additional 431 shares during the period. Connecticut Wealth Management LLC’s holdings in Visa were worth $4,333,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of V. Livelsberger Financial Advisory bought a new stake in Visa during the 4th quarter valued at $25,000. Westend Capital Management LLC bought a new position in shares of Visa during the first quarter valued at about $25,000. POM Investment Strategies LLC boosted its holdings 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 worth $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new position in Visa during the 4th quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC lifted its stake 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 acquiring an additional 89 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of V opened at $284.67 on Friday. The firm has a fifty day simple moving average of $270.65 and a two-hundred day simple moving average of $273.49. The firm has a market cap of $518.76 billion, a PE ratio of 31.81, a P/E/G ratio of 2.05 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during 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 revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.16 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.73%. Visa’s payout ratio is presently 23.24%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on V shares. Compass Point initiated coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Evercore ISI decreased their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Bank of America upped their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Citigroup dropped their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

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.