Selective Wealth Management Inc. Makes New $2.94 Million Investment in Visa Inc. (NYSE:V)

Selective Wealth Management Inc. acquired a new stake in shares of Visa Inc. (NYSE:V) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,333 shares of the credit-card processor’s stock, valued at approximately $2,937,000. Visa accounts for about 1.5% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 19th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Graham Capital Wealth Management LLC bought a new position in shares of Visa during the first quarter valued at approximately $299,862,000. Financial Freedom LLC purchased a new position in Visa in the fourth quarter worth about $32,000. Ridgewood Investments LLC purchased a new position in Visa in the first quarter worth about $35,000. Kalos Management Inc. purchased a new position in Visa in the first quarter worth about $40,000. Finally, NewSquare Capital LLC boosted its position in 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 purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 81.35% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $5,766,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Ryan Mcinerney sold 24,025 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rajat Taneja sold 2,300 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $552,000.00. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $55,706,880. The disclosure for this sale can be found here. Insiders have sold 81,550 shares of company stock valued at $19,795,806 in the last quarter. 0.21% of the stock is owned by insiders.

Visa Price Performance

Shares of Visa stock opened at $244.64 on Tuesday. The stock has a market cap of $455.48 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 1.81 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50 day moving average price of $241.67 and a 200-day moving average price of $232.37. Visa Inc. has a one year low of $174.60 and a one year high of $250.06.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.98 EPS. Equities analysts expect that Visa Inc. will post 8.65 EPS for the current year.

Visa Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on V shares. Royal Bank of Canada raised their target price on Visa from $265.00 to $290.00 in a research report on Wednesday, July 26th. 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 report on Wednesday, July 26th. Raymond James raised their price objective on Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Truist Financial raised their price objective on Visa from $270.00 to $275.00 in a research note on Wednesday, July 26th. Finally, Susquehanna raised their price objective on Visa from $266.00 to $300.00 in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $273.77.

About Visa

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.