Visa Inc. (NYSE:V) Stock Position Raised by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its position in shares of Visa Inc. (NYSE:V - Free Report) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 495,024 shares of the credit-card processor's stock after buying an additional 3,072 shares during the quarter. Visa comprises 1.0% of DAVENPORT & Co LLC's portfolio, making the stock its 14th largest position. DAVENPORT & Co LLC's holdings in Visa were worth $172,844,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of V. Sovereign Investment Advisors LLC bought a new stake in Visa in the fourth quarter valued at $424,000. Brighton Jones LLC lifted 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 valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares during the period. Leverage Partners Absolute Return Fund SPC bought a new position in Visa in the 4th quarter worth about $204,000. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of Visa by 7.0% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,855 shares of the credit-card processor's stock valued at $902,000 after buying an additional 187 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Activity

In related news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at $185,576.46. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,478 shares of company stock worth $33,717,733. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial began coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Barclays restated an "overweight" rating on shares of Visa in a research note on Friday, June 13th. UBS Group increased their target price on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, William Blair reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $372.84.

Visa Trading Up 1.3%

V stock traded up $4.48 during mid-day trading on Friday, reaching $358.70. 3,702,810 shares of the stock traded hands, compared to its average volume of 6,855,011. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The stock's fifty day moving average is $355.33 and its 200-day moving average is $340.96. The company has a market cap of $661.86 billion, a P/E ratio of 36.05, a P/E/G ratio of 2.40 and a beta of 0.92. 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 (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the firm earned $2.51 EPS. The firm's quarterly revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. 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 (DPR) is presently 23.72%.

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.