Miracle Mile Advisors LLC Raises Position in Visa Inc. (NYSE:V)

Miracle Mile Advisors LLC raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,387 shares of the credit-card processor's stock after purchasing an additional 2,214 shares during the period. Miracle Mile Advisors LLC's holdings in Visa were worth $14,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in V. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Visa during the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC grew its stake in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after buying an additional 32 shares during the last quarter. Compass Planning Associates Inc bought a new position in shares of Visa during the fourth quarter valued at approximately $32,000. NewSquare Capital LLC bought a new position in shares of Visa during the fourth quarter valued at approximately $35,000. Finally, FPC Investment Advisory Inc. grew its stake in shares of Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock valued at $36,000 after buying an additional 83 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on V. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and upped their target price for the company from $359.00 to $425.00 in a research note on Thursday. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Evercore ISI began coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price on the stock. BMO Capital Markets boosted their price target on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Susquehanna reiterated a "positive" rating on shares of Visa in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Visa Stock Performance

Shares of V stock opened at $370.44 on Friday. The business's fifty day simple moving average is $345.45 and its 200-day simple moving average is $335.70. The company has a market cap of $683.52 billion, a PE ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.00.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the firm earned $2.51 EPS. The firm's revenue was up 9.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction 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 now directly owns 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated 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 now directly owns 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock valued at $58,645,479 in the last ninety days. Company insiders own 0.13% of the company's stock.

Visa Company 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.

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