StoneCrest Wealth Management Inc. Has $378,000 Holdings in Visa Inc. (NYSE:V)

StoneCrest Wealth Management Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 24.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,376 shares of the credit-card processor’s stock after selling 447 shares during the period. StoneCrest Wealth Management Inc.’s holdings in Visa were worth $378,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of V. Pathway Financial Advisors LLC increased its position in Visa by 13.6% in the 3rd quarter. Pathway Financial Advisors LLC now owns 1,411 shares of the credit-card processor’s stock valued at $388,000 after acquiring an additional 169 shares in the last quarter. Marquette Asset Management LLC increased its holdings in shares of Visa by 95.7% in the third quarter. Marquette Asset Management LLC now owns 1,440 shares of the credit-card processor’s stock valued at $396,000 after purchasing an additional 704 shares in the last quarter. Talbot Financial LLC raised its position in Visa by 3.1% in the 3rd quarter. Talbot Financial LLC now owns 55,147 shares of the credit-card processor’s stock worth $15,163,000 after purchasing an additional 1,638 shares during the last quarter. Brookstone Capital Management lifted its holdings in Visa by 9.0% during the 3rd quarter. Brookstone Capital Management now owns 38,106 shares of the credit-card processor’s stock worth $10,477,000 after buying an additional 3,162 shares in the last quarter. Finally, Trust Co of Kansas boosted its position in Visa by 0.8% in the 3rd quarter. Trust Co of Kansas now owns 19,213 shares of the credit-card processor’s stock valued at $5,283,000 after buying an additional 146 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 completion of 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 Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Visa Price Performance

Shares of NYSE V opened at $274.96 on Wednesday. The company has a fifty day moving average price of $273.48 and a 200 day moving average price of $272.68. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The firm has a market cap of $502.88 billion, a PE ratio of 30.72, a PEG ratio of 1.92 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 (NYSE:V) last announced its earnings results 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 analyst estimates 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 last year, the firm earned $2.16 EPS. Research analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Macquarie restated an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Friday, September 27th. Piper Sandler cut their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Evercore ISI cut their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Six research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.04.

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.