Visa Inc. (NYSE:V) Shares Bought by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in Visa by 101.4% in Q1, acquiring an additional 97,144 shares, bringing its total holdings to 192,947 shares valued at approximately $67.62 million.
• Visa's recent quarterly earnings surpassed expectations, reporting $2.76 EPS and $9.59 billion in revenue, marking a 9.3% increase in revenue compared to the same quarter last year.
• Analysts have a consensus "Moderate Buy" rating for Visa, with a target price averaging around $375.52, reflecting widespread optimism about the company's future performance.

HB Wealth Management LLC grew its position in Visa Inc. (NYSE:V - Free Report) by 101.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,947 shares of the credit-card processor's stock after purchasing an additional 97,144 shares during the quarter. Visa makes up about 0.6% of HB Wealth Management LLC's investment portfolio, making the stock its 26th largest holding. HB Wealth Management LLC's holdings in Visa were worth $67,620,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in Visa in the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa during the fourth quarter valued at about $47,000. O Brien Wealth Partners LLC bought a new stake in shares of Visa in the first quarter worth about $54,000. Global X Japan Co. Ltd. purchased a new stake in shares of Visa in the first quarter worth about $56,000. Finally, Cedar Mountain Advisors LLC grew its holdings in shares of Visa by 28.5% in the first quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock valued at $59,000 after purchasing an additional 37 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred 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 transaction, the insider owned 26,413 shares in the company, 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 have sold 101,108 shares of company stock worth $36,771,200 in the last quarter. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on V shares. William Blair reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Citigroup started coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Finally, Piper Sandler lifted their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Five equities research 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $377.16.

Visa Stock Performance

Shares of V stock traded up $1.58 on Wednesday, hitting $352.87. The company had a trading volume of 6,212,961 shares, compared to its average volume of 6,560,002. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $651.10 billion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. The company has a 50-day moving average price of $355.76 and a 200-day moving average price of $345.83.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the company earned $2.42 EPS. The business's revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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 $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio (DPR) is presently 23.72%.

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.