Belpointe Asset Management LLC Has $6.85 Million Holdings in Visa Inc. $V

Key Points

• Belpointe Asset Management LLC has increased its stake in Visa Inc. by 32.1%, acquiring an additional 4,744 shares, bringing its total ownership to 19,540 shares valued at approximately $6.85 million.
• Visa reported a quarterly EPS of $2.98, surpassing analysts' expectations of $2.85, with revenues of $10.17 billion, reflecting a 14.3% year-over-year growth.
• The firm announced a quarterly dividend of $0.59 per share, representing a 0.7% dividend yield and a payout ratio of 23.05%.

Belpointe Asset Management LLC grew its stake in Visa Inc. (NYSE:V - Free Report) by 32.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,540 shares of the credit-card processor's stock after purchasing an additional 4,744 shares during the period. Belpointe Asset Management LLC's holdings in Visa were worth $6,848,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of V. Brighton Jones LLC grew its position in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Visa by 68.9% during the 4th 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 during the period. LMR Partners LLP bought a new position in shares of Visa during the 4th quarter worth about $2,467,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Visa by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,924 shares of the credit-card processor's stock worth $72,033,000 after acquiring an additional 12,298 shares during the period. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Visa during the 4th quarter worth about $67,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

V stock traded up $5.16 during trading on Thursday, hitting $343.28. 5,152,779 shares of the stock traded hands, compared to its average volume of 4,970,029. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The stock has a market cap of $629.16 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 2.25 and a beta of 0.92. The company has a 50 day simple moving average of $347.41 and a 200 day simple moving average of $347.03. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is currently 23.05%.

Analysts Set New Price Targets

A number of research firms have recently commented on V. Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Macquarie raised their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $385.96.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm'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 owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Visa 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.