3Chopt Investment Partners LLC acquired a new position in Visa Inc. (NYSE:V - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,596 shares of the credit-card processor's stock, valued at approximately $1,611,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Lakeridge Wealth Management LLC boosted its holdings in Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after purchasing an additional 81 shares during the period. Blue Rock Wealth Management LLC bought a new position in Visa in the 4th quarter valued at $306,000. Aptus Capital Advisors LLC boosted its holdings in Visa by 19.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after purchasing an additional 30,185 shares during the period. King Wealth Management Group boosted its holdings in Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after purchasing an additional 6,172 shares during the period. Finally, Eagle Strategies LLC boosted its holdings in Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after purchasing an additional 63 shares during the period. 82.15% of the stock is owned by institutional investors.
Insider Activity
In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,098 shares of company stock valued at $36,738,526. Insiders own 0.13% of the company's stock.
Visa Stock Performance
Shares of NYSE:V opened at $349.13 on Friday. The company has a market cap of $644.20 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94. The company has a 50-day moving average price of $353.30 and a 200-day moving average price of $340.01. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.51 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is 23.72%.
Wall Street Analyst Weigh In
Several brokerages have commented on V. UBS Group raised their price target on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Susquehanna restated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, William Blair restated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $372.80.
Check Out Our Latest Research Report on V
About Visa
(
Free Report)
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.
See Also
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