Albion Financial Group UT Raises Stock Position in Visa Inc. (NYSE:V)

Albion Financial Group UT grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,732 shares of the credit-card processor's stock after acquiring an additional 730 shares during the period. Visa comprises approximately 1.7% of Albion Financial Group UT's investment portfolio, making the stock its 16th biggest holding. Albion Financial Group UT's holdings in Visa were worth $23,737,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Visa in the fourth quarter worth about $5,171,271,000. GAMMA Investing LLC lifted its position in shares of Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Vanguard Group Inc. lifted its position in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Raymond James Financial Inc. bought a new position in shares of Visa during the fourth quarter valued at approximately $1,955,403,000. Finally, Northern Trust Corp increased its holdings in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $194,807.49. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,478 shares of company stock valued at $33,717,733 in the last ninety days. Insiders own 0.13% of the company's stock.

Visa Stock Performance

Shares of V opened at $355.10 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50-day moving average of $354.01 and a two-hundred day moving average of $340.47. The stock has a market cap of $655.22 billion, a P/E ratio of 35.69, a P/E/G ratio of 2.34 and a beta of 0.94. Visa Inc. has a one year low of $252.70 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 56.28% and a net margin of 52.86%. The company's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.51 earnings per share. As a group, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on V. BMO Capital Markets upped their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. William Blair reissued an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, Macquarie decreased their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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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