Abacus Wealth Partners LLC Has $461,000 Holdings in Visa Inc. (NYSE:V)

Abacus Wealth Partners LLC increased its stake in shares of Visa Inc. (NYSE:V) by 21.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,677 shares of the credit-card processor’s stock after purchasing an additional 295 shares during the period. Abacus Wealth Partners LLC’s holdings in Visa were worth $461,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter worth about $25,000. Westend Capital Management LLC bought a new position in Visa during the first quarter worth about $25,000. POM Investment Strategies LLC lifted its holdings 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 acquiring an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Visa in the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC lifted its holdings 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 purchasing an additional 89 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

V has been the topic of a number of research reports. Bank of America boosted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Compass Point initiated coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Visa Stock Down 0.1 %

Shares of V opened at $276.86 on Friday. 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 $506.36 billion, a price-to-earnings ratio of 30.93, 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. The stock has a fifty day moving average of $272.63 and a 200-day moving average of $273.12.

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

Visa Dividend Announcement

The company 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. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s payout ratio is 23.24%.

Visa 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.