Fifth Third Wealth Advisors LLC lifted its position in Visa Inc. (NYSE:V - Free Report) by 20.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,034 shares of the credit-card processor's stock after buying an additional 5,896 shares during the period. Visa makes up about 0.6% of Fifth Third Wealth Advisors LLC's investment portfolio, making the stock its 27th biggest position. Fifth Third Wealth Advisors LLC's holdings in Visa were worth $12,278,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of V. Riverstone Advisors LLC bought a new position in Visa in the 4th quarter worth $217,000. Blue Rock Wealth Management LLC purchased a new stake in shares of Visa during the fourth quarter worth about $306,000. Aptus Capital Advisors LLC raised its stake 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 purchasing an additional 30,185 shares during the period. Journey Strategic Wealth LLC lifted its holdings in Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock worth $3,058,000 after purchasing an additional 1,361 shares in the last quarter. Finally, King Wealth Management Group lifted its holdings in Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after purchasing an additional 6,172 shares in the last quarter. Institutional investors own 82.15% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on V shares. Citigroup began coverage on shares of Visa in a report on Monday. They issued a "buy" rating for the company. Oppenheimer reissued an "outperform" rating on shares of Visa in a research note on Thursday, February 13th. Keefe, Bruyette & Woods restated a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Susquehanna reiterated a "positive" rating on shares of Visa in a report on Friday, March 21st. Finally, William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $367.48.
Read Our Latest Research Report on Visa
Visa Stock Performance
Visa stock traded up $0.80 during midday trading on Tuesday, hitting $366.12. 5,221,297 shares of the company were exchanged, compared to its average volume of 6,996,385. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $369.15. The firm has a market capitalization of $675.56 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The business has a fifty day simple moving average of $343.82 and a two-hundred day simple moving average of $334.27. 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 (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the firm earned $2.51 earnings per share. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.64%. Visa's payout ratio is 23.72%.
Insider Buying and Selling at Visa
In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 14,813 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $9,377,671.52. This trade represents a 35.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,328 shares of company stock worth $38,419,222 over the last quarter. 0.13% of the stock is currently owned by company insiders.
Visa 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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