Spectrum Wealth Counsel LLC Decreases Stock Holdings in Visa Inc. (NYSE:V)

Spectrum Wealth Counsel LLC lowered its holdings in Visa Inc. (NYSE:V) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,319 shares of the credit-card processor’s stock after selling 1,582 shares during the period. Visa comprises 1.3% of Spectrum Wealth Counsel LLC’s holdings, making the stock its 23rd largest position. Spectrum Wealth Counsel LLC’s holdings in Visa were worth $10,058,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Westend Capital Management LLC purchased a new stake in shares of Visa during the 1st quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter valued at $25,000. POM Investment Strategies LLC increased its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Visa in the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC lifted its position in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America reissued a “neutral” rating and issued a $297.00 price objective (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Jefferies Financial Group reduced their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Evercore ISI dropped their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Citigroup reduced their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $309.81.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by insiders.

Visa Stock Performance

Visa stock opened at $287.35 on Friday. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $523.64 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The firm’s fifty day moving average price is $268.29 and its 200-day moving average price is $273.24.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the firm earned $2.16 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. Visa’s payout ratio is 23.24%.

Visa Company Profile

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.