Avior Wealth Management LLC Has $4.76 Million Stock Position in Visa Inc. $V

Key Points

• Avior Wealth Management LLC increased its stake in Visa Inc. by 11.3%, holding 13,404 shares worth approximately $4.76 million.
• Visa reported strong earnings, with earnings per share of $2.98 for the last quarter, exceeding estimates, and a revenue of $10.17 billion, representing a year-over-year increase of 14.3%.
• The company recently announced a quarterly dividend of $0.59 per share, giving it an annualized dividend of $2.36 and a yield of 0.7%.

Avior Wealth Management LLC boosted its stake in Visa Inc. (NYSE:V - Free Report) by 11.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,404 shares of the credit-card processor's stock after acquiring an additional 1,361 shares during the period. Avior Wealth Management LLC's holdings in Visa were worth $4,759,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Northern Trust Corp raised its stake in Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after buying an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Visa by 7.2% during the first 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 worth $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Visa by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after buying an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after buying an additional 1,651,954 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Trading Up 0.9%

V opened at $340.27 on Tuesday. Visa Inc. has a 1-year low of $273.20 and a 1-year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $623.64 billion, a P/E ratio of 33.23, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The company has a fifty day moving average price of $344.44 and a two-hundred day moving average price of $346.54.

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

Visa Announces Dividend

The firm 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 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is presently 23.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. UBS Group reissued a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. One investment 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated 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 sale, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently 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.

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