Absher Wealth Management LLC Has $38.27 Million Stock Holdings in Visa Inc. $V

Absher Wealth Management LLC boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 40.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,615 shares of the credit-card processor's stock after buying an additional 36,757 shares during the period. Visa comprises 4.5% of Absher Wealth Management LLC's portfolio, making the stock its 5th largest holding. Absher Wealth Management LLC's holdings in Visa were worth $38,268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clayton Financial Group LLC increased its position in shares of Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock worth $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp grew its holdings in shares of Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock worth $26,000 after purchasing an additional 38 shares during the last quarter. Cresta Advisors Ltd. bought a new stake in shares of Visa during the fourth quarter worth $26,000. Parvin Asset Management LLC grew its holdings in Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Finally, Dorato Capital Management bought a new stake in Visa during the 4th quarter worth about $30,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of V opened at $357.02 on Tuesday. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.02. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The firm's 50 day moving average price is $331.34 and its two-hundred day moving average price is $324.88. The firm has a market cap of $640.41 billion, a P/E ratio of 31.10, a PEG ratio of 1.86 and a beta of 0.75.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analysts' expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm's revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.76 EPS. On average, analysts forecast that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa's dividend payout ratio (DPR) is 23.34%.

Visa declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $400.00 target price on shares of Visa in a research note on Wednesday, April 29th. Weiss Ratings raised shares of Visa from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, July 6th. Barclays started coverage on Visa in a report on Tuesday, July 7th. They issued an "overweight" rating and a $420.00 price target on the stock. Robert W. Baird set a $412.00 price objective on Visa and gave the stock an "outperform" rating in a report on Monday, July 6th. Finally, Piper Sandler started coverage on shares of Visa in a research report on Monday, June 29th. They set an "overweight" rating and a $394.00 target price for the company. Seven investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $397.91.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the sale, the general counsel owned 18,404 shares of the company's stock, valued at approximately $6,625,440. This represents a 9.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares of the company's stock, valued at $5,219,704.26. This represents a 40.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 75,581 shares of company stock worth $25,627,975 over the last ninety days. Insiders own 0.12% of the company's stock.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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