Brookwood Investment Group LLC purchased a new position in Visa Inc. (NYSE:V - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,757 shares of the credit-card processor's stock, valued at approximately $2,718,000.
Other institutional investors also recently made changes to their positions in the company. FWL Investment Management LLC increased its holdings in Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after purchasing an additional 29 shares in the last quarter. Yeomans Consulting Group Inc. raised its position in shares of Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after buying an additional 29 shares in the last quarter. Capstone Financial Advisors Inc. increased its stake in Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after acquiring an additional 30 shares during the last quarter. Headinvest LLC grew its stake in shares of Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after buying an additional 30 shares during the last quarter. Finally, Kennebec Savings Bank grew its stake in shares of Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is currently owned by corporate insiders.
Visa Stock Performance
Shares of NYSE V traded up $1.62 during trading on Thursday, reaching $356.91. 1,098,579 shares of the company traded hands, compared to its average volume of 6,562,069. 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 Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm's fifty day simple moving average is $356.62 and its 200 day simple moving average is $344.40. The stock has a market cap of $658.56 billion, a P/E ratio of 35.86, a PEG ratio of 2.38 and a beta of 0.92.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $2.51 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa's dividend payout ratio is presently 23.72%.
Analysts Set New Price Targets
A number of research firms have commented on V. Piper Sandler lifted their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Evercore ISI began coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating on the stock. Finally, Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $375.52.
Check Out Our Latest Stock Report on V
About Visa
(
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.
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