Visa Inc. (NYSE:V) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,210 shares of the credit-card processor’s stock after selling 5,008 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Visa were worth $14,229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new stake in shares of Visa in the 4th quarter worth approximately $25,000. Westend Capital Management LLC acquired a new position in Visa during the first quarter worth $25,000. POM Investment Strategies LLC boosted its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Visa in the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC increased its position in shares of 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 buying an additional 89 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the topic of several recent research reports. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Bank of America restated a “neutral” rating and set a $297.00 price objective (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Morgan Stanley lowered their target price on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Finally, Jefferies Financial Group reduced their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $309.81.

Insider Activity at Visa

In other Visa 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 owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $290.52 on Tuesday. The business has a 50-day moving average of $268.78 and a two-hundred day moving average of $273.21. The firm has a market capitalization of $529.42 billion, a PE ratio of 32.46, a P/E/G ratio of 2.01 and a beta of 0.96. 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 12 month low of $227.78 and a 12 month high of $290.96.

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

Visa Announces Dividend

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

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.