EverSource Wealth Advisors LLC Has $6.57 Million Position in Visa Inc. (NYSE:V)

Key Points

• EverSource Wealth Advisors LLC increased its stake in Visa Inc. by 4.1% in Q1, owning 18,746 shares valued at $6.57 million as of its latest SEC filing.
• Visa reported $2.98 earnings per share for the last quarter, surpassing estimates, with revenue rising 14.3% year-over-year to $10.17 billion.
• The company declared a quarterly dividend of $0.59 per share, with an annual yield of 0.7%, to be paid on September 2nd to shareholders on record as of August 12th.

EverSource Wealth Advisors LLC grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 4.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 18,746 shares of the credit-card processor's stock after buying an additional 732 shares during the period. EverSource Wealth Advisors LLC's holdings in Visa were worth $6,570,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Howard Wealth Management LLC raised its position in shares of Visa by 1.0% during the first quarter. Howard Wealth Management LLC now owns 6,012 shares of the credit-card processor's stock valued at $2,107,000 after buying an additional 60 shares during the last quarter. High Falls Advisors Inc raised its position in shares of Visa by 1.6% during the first quarter. High Falls Advisors Inc now owns 6,291 shares of the credit-card processor's stock valued at $2,205,000 after buying an additional 97 shares during the last quarter. Element Capital Management LLC acquired a new position in shares of Visa during the first quarter valued at about $2,778,000. Dimensional Fund Advisors LP raised its position in Visa by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,471,084 shares of the credit-card processor's stock worth $2,968,272,000 after purchasing an additional 36,149 shares in the last quarter. Finally, Horizon Investments LLC raised its position in Visa by 13.8% in the first quarter. Horizon Investments LLC now owns 26,158 shares of the credit-card processor's stock worth $9,152,000 after purchasing an additional 3,179 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Up 0.9%

Visa stock opened at $345.53 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50-day moving average of $350.69 and a 200-day moving average of $347.27. The company has a market cap of $633.27 billion, a price-to-earnings ratio of 33.74, a P/E/G ratio of 2.28 and a beta of 0.94. Visa Inc. has a one year low of $262.84 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 earnings per share. On average, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The shares were 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 in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. 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 three months, insiders sold 75,100 shares of company stock worth $27,643,224. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on V. UBS Group reissued a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. William Blair reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

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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