Absher Wealth Management LLC Has $31.26 Million Holdings in Visa Inc. (NYSE:V)

Absher Wealth Management LLC trimmed its position in Visa Inc. (NYSE:V - Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,207 shares of the credit-card processor's stock after selling 1,305 shares during the quarter. Visa makes up approximately 4.1% of Absher Wealth Management LLC's holdings, making the stock its 7th largest position. Absher Wealth Management LLC's holdings in Visa were worth $31,264,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC bought a new position in Visa during the 4th quarter worth $27,000. Compass Planning Associates Inc bought a new position in Visa during the 4th quarter worth $32,000. NewSquare Capital LLC bought a new position in Visa during the 4th quarter worth $35,000. FPC Investment Advisory Inc. grew its stake in Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after buying an additional 83 shares during the last quarter. Finally, Sellwood Investment Partners LLC bought a new position in Visa during the 4th quarter worth $41,000. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Down 0.7%

Shares of NYSE V opened at $338.04 on Friday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a market cap of $623.73 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 2.28 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $351.78 and a 200-day simple moving average of $338.74.

Visa (NYSE:V - Get Free Report) last announced its earnings results 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. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the business posted $2.51 earnings per share. Visa's revenue was up 9.3% compared to the same quarter last year. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction on Thursday, May 1st. The stock was 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 directly owns 537 shares of the company's stock, valued at approximately $185,576.46. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,098 shares of company stock valued at $36,738,526. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on V shares. William Blair restated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Jefferies Financial Group boosted their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. The Goldman Sachs Group assumed coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating for the company. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $372.80.

Visa Company 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.

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