Icon Wealth Partners LLC Has $563,000 Stake in Visa Inc (V)

Icon Wealth Partners LLC cut its stake in Visa Inc (NYSE:V) by 8.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,248 shares of the credit-card processor’s stock after selling 403 shares during the quarter. Icon Wealth Partners LLC’s holdings in Visa were worth $563,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Castle Rock Wealth Management LLC increased its holdings in shares of Visa by 24.7% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 7,518 shares of the credit-card processor’s stock valued at $996,000 after acquiring an additional 1,490 shares during the period. Glen Harbor Capital Management LLC boosted its position in shares of Visa by 1.6% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 438,680 shares of the credit-card processor’s stock worth $58,103,000 after purchasing an additional 6,754 shares in the last quarter. Pettyjohn Wood & White Inc. boosted its position in shares of Visa by 2.6% in the 2nd quarter. Pettyjohn Wood & White Inc. now owns 45,115 shares of the credit-card processor’s stock worth $5,975,000 after purchasing an additional 1,145 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of Visa in the 2nd quarter worth $1,050,000. Finally, OppenheimerFunds Inc. boosted its position in shares of Visa by 11,300.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,842,250 shares of the credit-card processor’s stock worth $244,007,000 after purchasing an additional 1,826,090 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

V has been the subject of a number of recent analyst reports. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research report on Tuesday, September 25th. Morgan Stanley raised their price objective on Visa from $142.00 to $165.00 and gave the stock a “$140.13” rating in a research report on Thursday, July 19th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $166.00 price objective on shares of Visa in a research report on Thursday, October 25th. Royal Bank of Canada raised their price objective on Visa to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Finally, Raymond James reissued an “outperform” rating and issued a $165.00 price objective on shares of Visa in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $155.47.

In other Visa news, CFO Vasant M. Prabhu sold 25,064 shares of Visa stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the completion of the transaction, the chief financial officer now owns 58,232 shares in the company, valued at approximately $8,185,089.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James H. Hoffmeister sold 6,912 shares of Visa stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $140.01, for a total value of $967,749.12. Following the transaction, the senior vice president now owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Shares of V opened at $137.85 on Thursday. Visa Inc has a one year low of $106.60 and a one year high of $151.56. The company has a quick ratio of 1.69, a current ratio of 1.61 and a debt-to-equity ratio of 0.58. The stock has a market cap of $280.20 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.46 and a beta of 1.06.

Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. Visa had a return on equity of 38.00% and a net margin of 49.98%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. As a group, equities research analysts expect that Visa Inc will post 5.34 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.73%. This is a positive change from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio (DPR) is presently 18.22%.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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