Heritage Wealth Management Inc. Purchases Shares of 2,665 Visa Inc. (NYSE:V)

Heritage Wealth Management Inc. purchased a new stake in shares of Visa Inc. (NYSE:V) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,665 shares of the credit-card processor’s stock, valued at approximately $721,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. National Bank of Canada FI grew its holdings in shares of Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB bought a new position in shares of Visa in the first quarter worth approximately $511,321,000. GQG Partners LLC grew its holdings in shares of Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares during the last quarter. Wulff Hansen & CO. grew its holdings in shares of Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after purchasing an additional 1,582,074 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Visa by 14,306.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after acquiring an additional 1,489,856 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. TD Cowen cut their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Macquarie reiterated an “outperform” rating and issued a $300.00 price target on shares of Visa in a report on Friday, September 27th. Jefferies Financial Group cut their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Citigroup cut their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $310.93.

Insider Buying and Selling

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

Visa Price Performance

NYSE V opened at $277.62 on Wednesday. Visa Inc. has a one year low of $227.78 and a one year high of $293.07. The stock has a 50-day moving average of $271.71 and a 200 day moving average of $273.07. The company has a market capitalization of $507.75 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

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

Visa Announces Dividend

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