New World Advisors LLC Acquires 789 Shares of Visa Inc. (NYSE:V)

New World Advisors LLC grew its holdings in Visa Inc. (NYSE:V - Free Report) by 26.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,754 shares of the credit-card processor's stock after purchasing an additional 789 shares during the quarter. Visa makes up approximately 0.3% of New World Advisors LLC's holdings, making the stock its 9th biggest holding. New World Advisors LLC's holdings in Visa were worth $1,316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of V. Lakeridge Wealth Management LLC boosted its holdings in Visa by 5.7% during 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 during the last quarter. Blue Rock Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC raised its position in shares of Visa by 19.8% in 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 acquiring an additional 30,185 shares during the period. King Wealth Management Group boosted its stake in Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after acquiring an additional 6,172 shares during the last quarter. Finally, Eagle Strategies LLC grew its holdings in Visa by 2.5% during the fourth 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 period. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.4%

Visa stock opened at $346.54 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50-day moving average of $352.91 and a 200-day moving average of $339.57. The company has a market cap of $639.42 billion, a price-to-earnings ratio of 34.83, a P/E/G ratio of 2.32 and a beta of 0.94. Visa Inc. has a one year low of $252.70 and a one year 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, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during 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%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.51 earnings per share. On average, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is presently 23.72%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,098 shares of company stock valued at $36,738,526. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

V has been the topic of several analyst reports. Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. BMO Capital Markets upped their price objective on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Piper Sandler boosted their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, Macquarie dropped their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Five equities research 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 company. According to MarketBeat.com, Visa presently has an average 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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