Hohimer Wealth Management LLC Grows Stock Holdings in Visa Inc. (NYSE:V)

Hohimer Wealth Management LLC raised its position in shares of Visa Inc. (NYSE:V - Free Report) by 168.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,169 shares of the credit-card processor's stock after purchasing an additional 10,142 shares during the quarter. Visa comprises 1.1% of Hohimer Wealth Management LLC's portfolio, making the stock its 21st largest holding. Hohimer Wealth Management LLC's holdings in Visa were worth $5,667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the period. Geode Capital Management LLC boosted its position in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after buying an additional 1,689,926 shares during the period. Capital International Investors boosted its position in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after buying an additional 866,596 shares during the period. Capital World Investors boosted its position in Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after purchasing an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of NYSE:V traded down $3.42 during trading on Tuesday, reaching $347.09. 4,887,324 shares of the stock were exchanged, compared to its average volume of 6,809,956. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The firm has a market cap of $640.43 billion, a PE ratio of 34.88, a PEG ratio of 2.36 and a beta of 0.92. The stock has a 50-day moving average price of $356.96 and a 200-day moving average price of $343.09. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the business earned $2.51 earnings per share. The company's revenue was up 9.3% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal 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 paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's dividend payout ratio is 23.72%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on V shares. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Macquarie lowered their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Truist Financial assumed coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective on the stock. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $372.84.

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.