Garrett Wealth Advisory Group LLC boosted its stake in Visa Inc. (NYSE:V - Free Report) by 44.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,383 shares of the credit-card processor's stock after purchasing an additional 733 shares during the quarter. Garrett Wealth Advisory Group LLC's holdings in Visa were worth $835,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Sovereign Investment Advisors LLC acquired a new position in Visa during the fourth quarter valued at approximately $424,000. Brighton Jones LLC lifted its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in Visa by 2.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 639,608 shares of the credit-card processor's stock valued at $202,142,000 after buying an additional 14,367 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its position in Visa by 3.1% during the fourth quarter. Highview Capital Management LLC DE now owns 19,997 shares of the credit-card processor's stock valued at $6,320,000 after buying an additional 604 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Macquarie reduced their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Barclays reissued an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. UBS Group boosted their target price 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. Finally, William Blair reissued an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $372.84.
Read Our Latest Report on V
Visa Stock Performance
Shares of NYSE:V traded down $8.17 on Friday, reaching $347.71. 7,576,795 shares of the company's stock were exchanged, compared to its average volume of 6,829,633. The firm has a market capitalization of $641.58 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.43 and a beta of 0.92. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The business's 50-day moving average is $356.93 and its two-hundred day moving average is $342.37. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.51 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa's dividend payout ratio (DPR) is 23.72%.
Insiders Place Their Bets
In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,108 shares of company stock valued at $36,771,200. Company insiders own 0.13% of the company's stock.
About Visa
(
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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