Aprio Wealth Management LLC grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 18.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,831 shares of the credit-card processor's stock after buying an additional 1,195 shares during the quarter. Aprio Wealth Management LLC's holdings in Visa were worth $2,744,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Algert Global LLC increased its position in shares of Visa by 27.0% in the fourth quarter. Algert Global LLC now owns 8,210 shares of the credit-card processor's stock worth $2,595,000 after acquiring an additional 1,744 shares in the last quarter. Blackstone Inc. purchased a new position in shares of Visa in the fourth quarter worth approximately $31,604,000. Finally, Bridgeway Capital Management LLC increased its position in shares of Visa by 1.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 87,276 shares of the credit-card processor's stock worth $27,583,000 after acquiring an additional 1,374 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.
Insider Activity at Visa
In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the transaction, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,293 shares of company stock worth $8,114,295 in the last ninety days. 0.13% of the stock is currently owned by insiders.
Analysts Set New Price Targets
V has been the topic of a number of research analyst reports. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Morgan Stanley boosted their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Barclays reaffirmed an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. 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. Finally, Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and an average target price of $385.96.
Read Our Latest Report on V
Visa Stock Performance
Shares of Visa stock traded down $7.98 on Friday, reaching $343.02. The stock had a trading volume of 5,447,231 shares, compared to its average volume of 5,060,212. The business's 50-day moving average price is $348.51 and its two-hundred day moving average price is $347.27. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The stock has a market cap of $628.67 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.34 and a beta of 0.92.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the previous year, the company earned $2.42 earnings per share. Visa's revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.
Visa Profile
(
Free Report)
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.
Further Reading
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