Larson Financial Group LLC raised its position in shares of Visa Inc. (NYSE:V - Free Report) by 24.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,107 shares of the credit-card processor's stock after acquiring an additional 4,102 shares during the period. Larson Financial Group LLC's holdings in Visa were worth $7,397,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in V. Brighton Jones LLC lifted its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after acquiring an additional 4,817 shares during the period. Highview Capital Management LLC DE lifted its holdings in shares of Visa by 3.1% during the 4th quarter. Highview Capital Management LLC DE now owns 19,997 shares of the credit-card processor's stock worth $6,320,000 after acquiring an additional 604 shares during the period. Cozad Asset Management Inc. boosted its position in shares of Visa by 3.3% during the 4th quarter. Cozad Asset Management Inc. now owns 5,612 shares of the credit-card processor's stock worth $1,774,000 after acquiring an additional 180 shares in the last quarter. Finally, Aspen Wealth Strategies LLC increased its stake in Visa by 1.5% in the fourth quarter. Aspen Wealth Strategies LLC now owns 2,669 shares of the credit-card processor's stock valued at $844,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Visa Stock Up 0.2%
V stock traded up $0.67 during midday trading on Thursday, hitting $350.57. The stock had a trading volume of 3,060,138 shares, compared to its average volume of 6,642,228. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The firm has a market cap of $646.86 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.35 and a beta of 0.92. The business has a 50-day moving average of $356.94 and a two-hundred day moving average of $343.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the business earned $2.51 EPS. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Dividend Announcement
The company also recently declared 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. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is presently 23.72%.
Insider Buying and Selling
In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider directly 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. Over the last quarter, insiders sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on V shares. BMO Capital Markets boosted their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Oppenheimer upped their price objective 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. Mizuho upgraded shares of 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 research report on Thursday, June 5th. Citigroup began coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. Finally, The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and an average target price of $375.52.
View Our Latest Research Report on Visa
Visa Company Profile
(
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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