AdviceOne Advisory Services LLC Acquires New Shares in Visa Inc. $V

Key Points

• AdviceOne Advisory Services LLC recently acquired 1,066 shares of Visa Inc., valued at approximately $374,000, making Visa its 17th largest holding.
• Several hedge funds increased their stakes in Visa during the first quarter, with UBS significantly boosting its position by acquiring over 955,000 shares.
• Visa's stock currently holds a consensus rating of "Moderate Buy" with an average price target of $385.96, following positive earnings that exceeded analysts' expectations.

AdviceOne Advisory Services LLC acquired a new stake in shares of Visa Inc. (NYSE:V - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,066 shares of the credit-card processor's stock, valued at approximately $374,000. Visa accounts for about 0.3% of AdviceOne Advisory Services LLC's investment portfolio, making the stock its 17th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lakeridge Wealth Management LLC boosted its position in Visa by 5.7% during 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. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after acquiring an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC raised its stake in Visa by 5.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after acquiring an additional 3,484 shares in the last quarter. Yeomans Consulting Group Inc. raised its stake in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on V shares. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Citigroup started coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. Macquarie lifted their target price on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, Jefferies Financial Group boosted their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Visa Stock Down 1.2%

V opened at $339.33 on Friday. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock's fifty day moving average is $347.03 and its 200-day moving average is $346.94. The company has a market capitalization of $621.92 billion, a PE ratio of 33.14, a P/E/G ratio of 2.29 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.42 EPS. On average, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's payout ratio is 23.05%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

About Visa

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.