Abundance Wealth Counselors Sells 459 Shares of Visa Inc. (NYSE:V)

Abundance Wealth Counselors lowered its holdings in Visa Inc. (NYSE:V) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,730 shares of the credit-card processor’s stock after selling 459 shares during the quarter. Visa accounts for about 0.9% of Abundance Wealth Counselors’ investment portfolio, making the stock its 20th biggest position. Abundance Wealth Counselors’ holdings in Visa were worth $2,029,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nadler Financial Group Inc. increased its stake in shares of Visa by 2.4% in the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after buying an additional 44 shares in the last quarter. Andrew Hill Investment Advisors Inc. bought a new position in Visa in the fourth quarter valued at approximately $3,427,000. Knights of Columbus Asset Advisors LLC grew its holdings in Visa by 1.1% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 75,421 shares of the credit-card processor’s stock worth $19,636,000 after acquiring an additional 795 shares during the period. Hilltop National Bank bought a new stake in shares of Visa during the 1st quarter valued at $1,212,000. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Visa by 0.8% in the 4th quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after purchasing an additional 40 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 2.2 %

Shares of V traded up $5.67 during mid-day trading on Thursday, hitting $266.81. 7,397,535 shares of the company’s stock were exchanged, compared to its average volume of 7,241,343. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company has a 50-day simple moving average of $266.63 and a 200 day simple moving average of $273.64. The company has a market cap of $486.21 billion, a PE ratio of 29.81, a P/E/G ratio of 1.83 and a beta of 0.95. 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 (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting 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 return on equity of 51.94% and a net margin of 54.72%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.16 earnings per share. On average, research analysts forecast that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is 23.24%.

Analyst Ratings Changes

V has been the subject of a number of analyst reports. TD Cowen decreased their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Mizuho increased their price target on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reduced their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Wedbush lifted their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $307.25.

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.