WealthPLAN Partners LLC Sells 8,409 Shares of Visa Inc. (NYSE:V)

WealthPLAN Partners LLC cut its stake in Visa Inc. (NYSE:V) by 59.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,774 shares of the credit-card processor’s stock after selling 8,409 shares during the quarter. WealthPLAN Partners LLC’s holdings in Visa were worth $1,588,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. POM Investment Strategies LLC grew its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Visa in the third quarter worth $31,000. TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Visa during the second quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

V has been the subject of a number of recent analyst reports. Citigroup lifted their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of NYSE V opened at $310.98 on Tuesday. Visa Inc. has a 12-month low of $244.11 and a 12-month high of $312.44. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The company has a market cap of $566.70 billion, a PE ratio of 31.96, a P/E/G ratio of 2.06 and a beta of 0.95. The stock has a 50 day simple moving average of $284.64 and a 200-day simple moving average of $274.92.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the business posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 11.18 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s payout ratio is 21.38%.

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.