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.
Read Our Latest Research Report on Visa
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
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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.
See Also
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

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