Advisors Capital Management LLC Buys 4,324 Shares of Visa Inc. $V

Key Points

• Advisors Capital Management LLC boosted its stake in Visa by 6.0%, buying an additional 4,324 shares to own 76,073 shares valued at about $26.68 million according to its latest 13F filing.
• Wall Street sentiment is positive: Visa carries an average rating of Buy with a consensus target price of $387.79 and multiple analysts issuing Outperform/Buy ratings.
• Director Lloyd Carney sold 650 shares (a 19.53% reduction in his position); insiders now own 0.12% of Visa while institutional investors hold roughly 82.15% of the stock.

Advisors Capital Management LLC boosted its stake in Visa Inc. (NYSE:V - Free Report) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,073 shares of the credit-card processor's stock after purchasing an additional 4,324 shares during the quarter. Advisors Capital Management LLC's holdings in Visa were worth $26,680,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Clayton Financial Group LLC increased its holdings in shares of Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock valued at $25,000 after acquiring an additional 58 shares in the last quarter. PayPay Securities Corp grew its position in Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock valued at $26,000 after purchasing an additional 38 shares during the period. Parvin Asset Management LLC increased its stake in Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Dorato Capital Management bought a new stake in Visa during the 4th quarter valued at $30,000. Finally, Imprint Wealth LLC acquired a new position in Visa during the third quarter worth $39,000. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. BMO Capital Markets began coverage on shares of Visa in a research note on Tuesday, April 21st. They issued an "outperform" rating and a $365.00 price objective on the stock. Daiwa Securities Group raised shares of Visa from a "neutral" rating to an "outperform" rating and set a $370.00 target price for the company in a research report on Monday, February 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $395.00 price target on shares of Visa in a research report on Friday, January 30th. UBS Group cut their price target on Visa from $425.00 to $390.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. Finally, Piper Sandler set a $160.00 price objective on Visa in a research note on Wednesday, January 28th. Seven analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Visa presently has an average rating of "Buy" and a consensus target price of $387.79.

Insider Activity at Visa

In related news, Director Lloyd Carney sold 650 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the transaction, the director directly owned 2,679 shares of the company's stock, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.12% of the company's stock.

Visa Stock Up 0.1%

V stock opened at $309.68 on Tuesday. The stock has a fifty day moving average of $309.79 and a 200-day moving average of $327.57. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. The company has a market capitalization of $562.11 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 1.78 and a beta of 0.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.14 by $0.03. The business had revenue of $10.90 billion for the quarter, compared to analysts' expectations of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The firm's quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.75 EPS. As a group, equities research analysts predict that Visa Inc. will post 12.84 earnings per share for the current year.

Visa Company Profile

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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