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Kiley Juergens Wealth Management LLC Acquires Shares of 8,122 Visa Inc. $V

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Key Points

  • Kiley Juergens Wealth Management opened a new position in Visa during the first quarter, buying 8,122 shares valued at about $2.46 million.
  • Institutional interest in Visa remains strong, with several other funds increasing holdings and 82.15% of the stock now owned by hedge funds and other institutional investors.
  • Visa’s business outlook is supported by record June stablecoin transaction volume of $1.79 trillion and a bullish analyst backdrop, while the company also announced it will report fiscal third-quarter results on July 28.
  • Five stocks we like better than Visa.

Kiley Juergens Wealth Management LLC acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,122 shares of the credit-card processor's stock, valued at approximately $2,455,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Canvas Wealth Advisors LLC lifted its position in shares of Visa by 7.9% during the first quarter. Canvas Wealth Advisors LLC now owns 1,884 shares of the credit-card processor's stock worth $569,000 after purchasing an additional 138 shares during the last quarter. Grange Capital LLC boosted its stake in Visa by 7.1% in the first quarter. Grange Capital LLC now owns 964 shares of the credit-card processor's stock valued at $291,000 after acquiring an additional 64 shares during the period. Walser Wealth Management Company A Ltd Liability Co grew its holdings in shares of Visa by 25.3% during the first quarter. Walser Wealth Management Company A Ltd Liability Co now owns 3,159 shares of the credit-card processor's stock valued at $955,000 after purchasing an additional 637 shares during the last quarter. PUREfi Wealth LLC grew its holdings in shares of Visa by 15.2% during the first quarter. PUREfi Wealth LLC now owns 3,272 shares of the credit-card processor's stock valued at $989,000 after purchasing an additional 431 shares during the last quarter. Finally, Meridian Investment Counsel Inc. raised its position in shares of Visa by 21.9% during the 1st quarter. Meridian Investment Counsel Inc. now owns 751 shares of the credit-card processor's stock worth $227,000 after purchasing an additional 135 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Visa

Here are the key news stories impacting Visa this week:

Visa Stock Down 1.4%

V opened at $352.21 on Wednesday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $365.02. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $631.79 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.91 and a beta of 0.75. The stock's 50 day moving average price is $328.99 and its 200 day moving average price is $324.88.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same quarter in the previous year, the firm posted $2.76 EPS. The firm's quarterly revenue was up 17.1% on a year-over-year basis. As a group, research analysts predict that Visa Inc. will post 13.1 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa's dividend payout ratio is presently 23.34%.

Visa announced that its board has authorized a share repurchase program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on V shares. Morgan Stanley reissued an "overweight" rating and issued a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. Robert W. Baird set a $412.00 price objective on Visa and gave the stock an "outperform" rating in a research note on Monday. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $450.00 target price on shares of Visa in a research report on Tuesday, June 2nd. BMO Capital Markets assumed coverage on Visa in a research note on Tuesday, April 21st. They issued an "outperform" rating and a $365.00 target price on the stock. Finally, Loop Capital assumed coverage on shares of Visa in a report on Tuesday, March 31st. They set a "buy" rating and a $387.00 price target for the company. Six research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Visa currently has a consensus rating of "Buy" and an average price target of $397.39.

Read Our Latest Analysis on Visa

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 dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares of the company's stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 75,581 shares of company stock valued at $25,627,975 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

Visa Company Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

See Also

Institutional Ownership by Quarter for Visa (NYSE:V)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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