Ledge Wealth Management Inc. Has $1.40 Million Stake in Visa Inc. (NYSE:V)

Ledge Wealth Management Inc. cut its position in Visa Inc. (NYSE:V) by 13.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. 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.

A number of other institutional investors and hedge funds also recently made changes to their positions in V. Financial Freedom LLC acquired a new stake in shares of Visa in the 4th quarter valued at approximately $32,000. Ridgewood Investments LLC acquired a new position in shares of Visa during the first quarter worth $35,000. Kalos Management Inc. bought a new position in shares of Visa in the 1st quarter valued at $40,000. NewSquare Capital LLC boosted its holdings in shares of Visa by 121.9% during the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock valued at $48,000 after acquiring an additional 117 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC grew its position in Visa by 666.7% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock worth $52,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 81.35% of the company’s stock.

Visa Stock Performance

NYSE V opened at $244.64 on Tuesday. The company has a fifty day moving average price of $241.67 and a 200-day moving average price of $232.37. The firm has a market cap of $455.48 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.81 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.49. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $250.06.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.80 dividend on an annualized basis and a yield of 0.74%. Visa’s dividend payout ratio (DPR) is presently 22.84%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on V. Citigroup lifted their price target on Visa from $273.00 to $275.00 in a research note on Wednesday, July 26th. Raymond James upped their price target on shares of Visa from $282.00 to $284.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Bank of America boosted their price objective on shares of Visa from $270.00 to $275.00 in a research note on Tuesday, July 18th. Wedbush reissued an “outperform” rating and issued a $270.00 price target on shares of Visa in a research note on Thursday, August 31st. Finally, Wells Fargo & Company raised their price objective on Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $273.77.

Insider Buying and Selling at Visa

In other Visa news, insider Rajat Taneja sold 15,800 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total value of $3,950,158.00. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $58,030,321.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Ryan Mcinerney sold 425 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $240.00, for a total transaction of $102,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rajat Taneja sold 15,800 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the transaction, the insider now owns 232,112 shares of the company’s stock, valued at $58,030,321.12. The disclosure for this sale can be found here. Insiders have sold a total of 81,550 shares of company stock worth $19,795,806 over the last three months. 0.21% of the stock is currently owned by insiders.

Visa 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.