Elevation Point Wealth Partners LLC decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,936 shares of the credit-card processor's stock after selling 1,356 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Visa were worth $4,183,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of V. West Branch Capital LLC lifted its stake in Visa by 3.3% during the first quarter. West Branch Capital LLC now owns 20,974 shares of the credit-card processor's stock worth $7,350,000 after purchasing an additional 679 shares during the last quarter. Everhart Financial Group Inc. increased its stake in shares of Visa by 11.6% in the 1st quarter. Everhart Financial Group Inc. now owns 11,239 shares of the credit-card processor's stock valued at $3,939,000 after purchasing an additional 1,170 shares during the last quarter. Puff Wealth Management LLC raised its holdings in shares of Visa by 3.7% during the 1st quarter. Puff Wealth Management LLC now owns 2,360 shares of the credit-card processor's stock worth $827,000 after buying an additional 84 shares in the last quarter. Hilltop Wealth Advisors LLC bought a new stake in shares of Visa during the 1st quarter worth $334,000. Finally, Twin Peaks Wealth Advisors LLC lifted its position in shares of Visa by 2.0% during the 1st quarter. Twin Peaks Wealth Advisors LLC now owns 1,599 shares of the credit-card processor's stock worth $537,000 after buying an additional 31 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on V shares. Piper Sandler lifted 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. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. UBS Group upped their price objective on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Evercore ISI began coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. Finally, Jefferies Financial Group raised their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.
Check Out Our Latest Research Report on V
Insider Activity at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $188,186.28. The trade was 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, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,448 shares of company stock worth $50,133,659 over the last quarter. Company insiders own 0.13% of the company's stock.
Visa Trading Up 0.7%
Shares of Visa stock traded up $2.41 during midday trading on Tuesday, reaching $357.89. The company had a trading volume of 5,557,241 shares, compared to its average volume of 7,003,532. The stock has a fifty day moving average price of $351.22 and a 200 day moving average price of $338.19. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm has a market cap of $660.37 billion, a PE ratio of 35.97, a P/E/G ratio of 2.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.51 EPS. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.
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.
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