Narwhal Capital Management Acquires 3,177 Shares of Visa Inc. (NYSE:V)

Narwhal Capital Management boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,609 shares of the credit-card processor's stock after acquiring an additional 3,177 shares during the period. Visa accounts for about 1.6% of Narwhal Capital Management's investment portfolio, making the stock its 13th largest holding. Narwhal Capital Management's holdings in Visa were worth $18,437,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Sovereign Investment Advisors LLC purchased a new stake in shares of Visa in the fourth quarter worth $424,000. Brighton Jones LLC boosted its stake in Visa by 50.1% in the 4th 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 in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Visa during the 4th quarter valued at about $202,074,000. Revolve Wealth Partners LLC increased its stake in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Finally, Leverage Partners Absolute Return Fund SPC bought a new stake in Visa during the 4th quarter valued at about $204,000. Institutional investors own 82.15% of the company's stock.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 14,813 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the sale, the insider now owns 26,413 shares in the company, valued at approximately $9,377,671.52. This trade represents a 35.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $185,576.46. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock valued at $36,738,526 in the last ninety days. Corporate insiders own 0.13% of the company's stock.

Visa Stock Up 2.3%

V opened at $351.65 on Wednesday. The firm's 50 day simple moving average is $352.27 and its two-hundred day simple moving average is $339.26. The company has a market capitalization of $648.84 billion, a PE ratio of 35.34, a PEG ratio of 2.31 and a beta of 0.94. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. 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 earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $2.51 EPS. As a group, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is currently 23.72%.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Citigroup initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. The Goldman Sachs Group initiated coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Finally, Susquehanna reaffirmed 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

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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