Gitterman Wealth Management LLC Boosts Stake in Visa Inc. $V

Key Points

• Gitterman Wealth Management LLC increased its stake in Visa by 91.9% during the first quarter, reaching 1,898 shares valued at $666,000 according to a recent SEC filing.
• Visa's stock received multiple upgrades from analysts, with the consensus rating now at "Moderate Buy" and an average price target of $380.84.
• The company reported earnings of $2.98 per share for the last quarter, surpassing estimates, with revenue reaching $10.17 billion, reflecting a 14.3% year-over-year increase.

Gitterman Wealth Management LLC lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 91.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,898 shares of the credit-card processor's stock after acquiring an additional 909 shares during the quarter. Gitterman Wealth Management LLC's holdings in Visa were worth $666,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Keystone Global Partners LLC acquired a new position in shares of Visa in the 1st quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the first quarter worth $27,000. Measured Risk Portfolios Inc. bought a new stake in shares of Visa in the fourth quarter worth $47,000. Navigoe LLC acquired a new stake in Visa in the fourth quarter valued at $53,000. Finally, O Brien Wealth Partners LLC bought a new position in Visa during the 1st quarter valued at $54,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

V has been the subject of several research analyst reports. Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Piper Sandler boosted their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. UBS Group reaffirmed a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, BMO Capital Markets lifted 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $380.84.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,127 shares of company stock valued at $28,340,553 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Shares of V stock opened at $343.5530 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $347.99 and a two-hundred day moving average of $347.37. Visa Inc. has a 52 week low of $265.31 and a 52 week high of $375.51. The company has a market cap of $629.66 billion, a P/E ratio of 33.55, a PEG ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping 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 firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the company earned $2.42 earnings per share. As a group, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is currently 23.05%.

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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