Cherrydale Wealth Management LLC Grows Stock Holdings in Visa Inc. (NYSE:V)

14 Oct 2024, 22:55 by Michael Walen · The Markets Daily

Cherrydale Wealth Management LLC increased its stake in shares of Visa Inc. (NYSE:V – Free Report) by 11.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,523 shares of the credit-card processor’s stock after acquiring an additional 151 shares during the quarter. Cherrydale Wealth Management LLC’s holdings in Visa were worth $419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Jessup Wealth Management Inc increased its position in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after acquiring an additional 37 shares in the last quarter. Cordatus Wealth Management LLC increased its position in shares of Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares in the last quarter. Tlwm increased its position in shares of Visa by 0.7% in the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after acquiring an additional 38 shares in the last quarter. Meridian Financial Partners LLC increased its position in shares of Visa by 0.5% in the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after acquiring an additional 38 shares in the last quarter. Finally, First National Corp MA ADV grew its position in Visa by 1.0% during the third quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock valued at $1,056,000 after purchasing an additional 38 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of V traded up $0.36 during trading hours on Monday, hitting $278.20. The stock had a trading volume of 230,514 shares, compared to its average volume of 7,093,994. The company’s fifty day moving average is $274.16 and its two-hundred day moving average is $272.62. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The stock has a market capitalization of $508.81 billion, a price-to-earnings ratio of 31.04, a P/E/G ratio of 1.92 and a beta of 0.96.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on V. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada decreased their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Citigroup decreased their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Oppenheimer initiated coverage on shares of Visa in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price for the company. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $313.81.

View Our Latest Analysis on V

Visa Company Profile

(Free Report)

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.