Investor s Fiduciary Advisor Network LLC cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 15.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,854 shares of the credit-card processor's stock after selling 1,806 shares during the period. Visa accounts for 1.6% of Investor s Fiduciary Advisor Network LLC's portfolio, making the stock its 12th biggest position. Investor s Fiduciary Advisor Network LLC's holdings in Visa were worth $3,453,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Lakeridge Wealth Management LLC increased its position in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after buying an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC purchased a new position in Visa during the 4th quarter valued at approximately $306,000. Aptus Capital Advisors LLC grew its holdings 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 buying an additional 30,185 shares in the last quarter. King Wealth Management Group lifted its stake in shares of Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after purchasing an additional 6,172 shares during the last quarter. Finally, Eagle Strategies LLC lifted its stake in shares of Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after purchasing an additional 63 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
V has been the subject of a number of research analyst reports. Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. UBS Group lifted their price target on Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Citigroup assumed coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. 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. Finally, Mizuho raised Visa from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Five 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 stock. According to data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and a consensus target price of $372.84.
Check Out Our Latest Report on Visa
Visa Stock Up 0.3%
NYSE:V traded up $1.17 on Wednesday, reaching $355.72. The stock had a trading volume of 655,609 shares, compared to its average volume of 6,813,189. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $356.43 and a 200 day moving average of $342.00. The stock has a market cap of $656.35 billion, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 2.42 and a beta of 0.92. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the company posted $2.51 earnings per share. The company's quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
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 dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa's dividend payout ratio (DPR) is 23.72%.
Insider Buying and Selling
In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock worth $36,771,200 over the last quarter. 0.13% of the stock is owned by company insiders.
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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