Ledge Wealth Management Inc. Decreases Stock Holdings in Visa Inc. (NYSE:V)

Ledge Wealth Management Inc. lowered its position in Visa Inc. (NYSE:V) by 13.9% during the second quarter, Holdings Channel reports. The institutional investor owned 5,904 shares of the credit-card processor’s stock after selling 955 shares during the quarter. Ledge Wealth Management Inc.’s holdings in Visa were worth $1,402,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of V. Financial Freedom LLC acquired a new position in shares of Visa during the fourth quarter valued at about $32,000. Ridgewood Investments LLC purchased a new stake in Visa during the 1st quarter worth approximately $35,000. Kalos Management Inc. acquired a new position in Visa during the 1st quarter valued at approximately $40,000. NewSquare Capital LLC raised its holdings in shares of Visa by 121.9% in the first quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock worth $48,000 after buying an additional 117 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC lifted its stake in shares of Visa by 666.7% during the first quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock worth $52,000 after buying an additional 200 shares during the period. Institutional investors own 81.35% of the company’s stock.

Visa Stock Up 1.5 %

Shares of NYSE V opened at $244.64 on Tuesday. The stock has a market cap of $455.48 billion, a PE ratio of 31.05, a P/E/G ratio of 1.81 and a beta of 0.95. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $250.06. The company has a 50-day moving average of $241.67 and a 200 day moving average of $232.37.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 EPS for the quarter, beating the consensus estimate of $2.11 by $0.05. The firm had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.98 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 8.65 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.80 annualized dividend and a dividend yield of 0.74%. Visa’s payout ratio is 22.84%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on V shares. Wells Fargo & Company raised their target price on Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Credit Suisse Group upped their target price on Visa from $265.00 to $275.00 in a research report on Wednesday, July 26th. Citigroup raised their price target on shares of Visa from $273.00 to $275.00 in a research report on Wednesday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of Visa from $265.00 to $296.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 22nd. Finally, Mizuho restated a “neutral” rating and set a $255.00 target price on shares of Visa in a research report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $273.77.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 425 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total transaction of $102,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Rajat Taneja sold 22,700 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $240.21, for a total value of $5,452,767.00. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $55,755,623.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 425 shares of Visa stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total transaction of $102,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,550 shares of company stock valued at $19,795,806. 0.21% of the stock is owned by company insiders.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.