RBA Wealth Management LLC Acquires 178 Shares of Visa Inc. (NYSE:V)

RBA Wealth Management LLC grew its position in Visa Inc. (NYSE:V) by 0.8% in the third quarter, HoldingsChannel.com reports. The fund owned 22,011 shares of the credit-card processor’s stock after buying an additional 178 shares during the period. Visa comprises about 2.3% of RBA Wealth Management LLC’s portfolio, making the stock its 12th biggest holding. RBA Wealth Management LLC’s holdings in Visa were worth $6,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pegasus Asset Management Inc. bought a new stake in shares of Visa during the 3rd quarter worth about $208,000. Eastern Bank raised its stake in Visa by 197.8% in the third quarter. Eastern Bank now owns 327,990 shares of the credit-card processor’s stock valued at $90,181,000 after purchasing an additional 217,852 shares in the last quarter. Sierra Capital LLC lifted its holdings in shares of Visa by 92.7% during the 3rd quarter. Sierra Capital LLC now owns 4,567 shares of the credit-card processor’s stock worth $1,256,000 after acquiring an additional 2,197 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Visa by 12.5% during the third quarter. Sequoia Financial Advisors LLC now owns 145,728 shares of the credit-card processor’s stock worth $40,068,000 after purchasing an additional 16,187 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Visa during the 3rd quarter worth $11,419,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.7 %

NYSE:V opened at $284.88 on Wednesday. The firm has a market cap of $521.03 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.00 and a beta of 0.96. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The firm’s fifty day moving average is $277.95 and its 200-day moving average is $273.02. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

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 business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 earnings per share. Equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on V. Oppenheimer started coverage on shares of Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price objective for the company. Compass Point began coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $322.00 target price on shares of Visa in a research report on Wednesday, September 25th. Evercore ISI reduced their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Four investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. 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 insiders.

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.