Capital Investment Advisory Services LLC Raises Stock Holdings in Visa Inc. (NYSE:V)

Capital Investment Advisory Services LLC increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,115 shares of the credit-card processor's stock after purchasing an additional 926 shares during the quarter. Capital Investment Advisory Services LLC's holdings in Visa were worth $5,648,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in V. Lakeridge Wealth Management LLC increased its position in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after buying an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC acquired a new position in Visa during the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC increased its position in Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after buying an additional 30,185 shares in the last quarter. King Wealth Management Group increased its position in Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after buying an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC increased its position in Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after buying an additional 63 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on V shares. Macquarie reduced their target price on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and upped their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $372.84.

Visa Stock Up 1.3%

Visa stock opened at $358.70 on Monday. The firm has a market cap of $661.86 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 2.43 and a beta of 0.92. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The business's 50-day moving average price is $355.79 and its 200 day moving average price is $341.65. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

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

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa's dividend payout ratio is currently 23.72%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is owned by corporate insiders.

Visa Company 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.

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