Bordeaux Wealth Advisors LLC Acquires 9,026 Shares of Visa Inc. (NYSE:V)

Bordeaux Wealth Advisors LLC lifted its stake in Visa Inc. (NYSE:V) by 273.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,326 shares of the credit-card processor’s stock after buying an additional 9,026 shares during the period. Bordeaux Wealth Advisors LLC’s holdings in Visa were worth $3,235,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of V. Hamel Associates Inc. boosted its position in Visa by 1.3% during the 2nd quarter. Hamel Associates Inc. now owns 3,091 shares of the credit-card processor’s stock valued at $811,000 after buying an additional 41 shares during the period. 9258 Wealth Management LLC increased its holdings in Visa by 2.8% during the 2nd quarter. 9258 Wealth Management LLC now owns 7,974 shares of the credit-card processor’s stock valued at $2,093,000 after purchasing an additional 220 shares during the period. SouthState Corp raised its position in Visa by 4.2% during the 2nd quarter. SouthState Corp now owns 79,530 shares of the credit-card processor’s stock valued at $20,874,000 after purchasing an additional 3,200 shares during the last quarter. Nottingham Advisors Inc. grew its position in shares of Visa by 172.8% in the 2nd quarter. Nottingham Advisors Inc. now owns 2,526 shares of the credit-card processor’s stock worth $663,000 after buying an additional 1,600 shares during the last quarter. Finally, Unison Asset Management LLC increased its stake in shares of Visa by 0.7% during the second quarter. Unison Asset Management LLC now owns 16,785 shares of the credit-card processor’s stock valued at $4,406,000 after buying an additional 120 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Compass Point initiated coverage on Visa in a research report on Wednesday. They issued a “buy” rating and a $319.00 target price for the company. Piper Sandler reduced their price target on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada lowered their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $309.54.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of NYSE:V opened at $278.62 on Friday. The business has a 50-day simple moving average of $266.18 and a two-hundred day simple moving average of $273.14. 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 firm has a market cap of $509.58 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.95 and a beta of 0.95. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 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.