Visa Inc. $V Shares Bought by Belpointe Asset Management LLC

Belpointe Asset Management LLC grew its position in shares of Visa Inc. (NYSE:V) by 3.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,212 shares of the credit-card processor’s stock after acquiring an additional 672 shares during the quarter. Belpointe Asset Management LLC’s holdings in Visa were worth $7,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Nuveen LLC acquired a new stake in Visa during the first quarter worth about $3,518,533,000. Vanguard Group Inc. increased its stake in Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the last quarter. Wellington Management Group LLP increased its stake in Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in Visa during the first quarter worth about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 1.3%

Shares of V opened at $346.66 on Friday. The company has a market capitalization of $635.36 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.08 and a beta of 0.90. Visa Inc. has a one year low of $275.35 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50-day moving average price of $343.68 and a 200 day moving average price of $346.98.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.42 earnings per share. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is currently 23.05%.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Oppenheimer increased their target price on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. UBS Group reiterated a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Robert W. Baird set a $410.00 target price on Visa and gave the company an “outperform” rating in a research note on Monday. Finally, Barclays reiterated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $389.00.

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.