Alpine Bank Wealth Management Takes Position in Visa Inc. (NYSE:V)

Alpine Bank Wealth Management bought a new stake in Visa Inc. (NYSE:V - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,871 shares of the credit-card processor's stock, valued at approximately $656,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC boosted its stake in shares of Visa by 123.8% in the 1st quarter. Golden State Wealth Management LLC now owns 17,239 shares of the credit-card processor's stock valued at $6,047,000 after purchasing an additional 9,535 shares in the last quarter. Aurora Private Wealth Inc. lifted its holdings in Visa by 11,691.3% during the 1st quarter. Aurora Private Wealth Inc. now owns 137,487 shares of the credit-card processor's stock valued at $48,184,000 after purchasing an additional 136,321 shares during the last quarter. Spire Wealth Management lifted its holdings in Visa by 7.4% during the 1st quarter. Spire Wealth Management now owns 62,291 shares of the credit-card processor's stock valued at $21,831,000 after purchasing an additional 4,292 shares during the last quarter. waypoint wealth counsel boosted its position in Visa by 30.7% in the first quarter. waypoint wealth counsel now owns 1,146 shares of the credit-card processor's stock valued at $402,000 after buying an additional 269 shares in the last quarter. Finally, Berkshire Money Management Inc. grew its stake in Visa by 7.6% during the first quarter. Berkshire Money Management Inc. now owns 1,481 shares of the credit-card processor's stock worth $519,000 after buying an additional 104 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Up 0.4%

V opened at $346.54 on Friday. The stock has a market cap of $639.42 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94. The stock's fifty day simple moving average is $352.91 and its 200 day simple moving average is $339.57. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the prior year, the firm earned $2.51 EPS. The business's revenue was up 9.3% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is 23.72%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm'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 owns 537 shares in the company, valued at $185,576.46. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,098 shares of company stock valued at $36,738,526. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on V shares. Citigroup started coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Evercore ISI began coverage on Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average price target of $372.80.

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.

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