Everhart Financial Group Inc. Grows Position in Visa Inc. (NYSE:V)

Everhart Financial Group Inc. boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 11.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,239 shares of the credit-card processor's stock after buying an additional 1,170 shares during the quarter. Everhart Financial Group Inc.'s holdings in Visa were worth $3,939,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Hirtle Callaghan & Co LLC grew its stake in Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after purchasing an additional 29 shares during the period. FWL Investment Management LLC raised its position in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after acquiring an additional 29 shares during the period. Warther Private Wealth LLC grew its position in shares of Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock valued at $928,000 after acquiring an additional 30 shares during the period. Valmark Advisers Inc. raised its holdings in shares of Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock worth $2,292,000 after purchasing an additional 30 shares during the period. Finally, Strategic Family Wealth Counselors L.L.C. increased its holdings in Visa by 0.4% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock worth $2,302,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

V stock traded down $18.65 during trading on Friday, reaching $352.75. The company had a trading volume of 14,176,249 shares, compared to its average volume of 7,023,536. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a market cap of $650.87 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The firm has a 50-day simple moving average of $349.76 and a 200-day simple moving average of $337.45.

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, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. 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 business posted $2.51 earnings per share. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on V shares. BMO Capital Markets increased their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Truist Financial started coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 price target on the stock. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. Citigroup began coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating on the stock. Finally, Susquehanna reaffirmed a "positive" rating on shares of Visa in a report on Friday, March 21st. Five 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $372.80.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at $194,807.49. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider now owns 26,413 shares of the company's stock, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,448 shares of company stock worth $50,133,659. Insiders own 0.13% of the company's stock.

Visa 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.