NewEdge Advisors LLC Has $132.92 Million Stake in Visa Inc. $V

Key Points

• NewEdge Advisors LLC increased its stake in Visa Inc. by 0.9%, owning 379,276 shares valued at approximately $132.9 million, making Visa its 17th largest position.
• Visa recently reported $2.98 earnings per share for the quarter, exceeding analyst expectations and showing a year-over-year revenue increase of 14.3%.
• Analysts are optimistic about Visa's stock performance, with multiple upgrades raising the price target; the stock holds a consensus rating of "Moderate Buy" with an average price target of $385.96.

NewEdge Advisors LLC raised its holdings in Visa Inc. (NYSE:V - Free Report) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 379,276 shares of the credit-card processor's stock after purchasing an additional 3,490 shares during the quarter. Visa accounts for approximately 0.8% of NewEdge Advisors LLC's investment portfolio, making the stock its 17th biggest position. NewEdge Advisors LLC's holdings in Visa were worth $132,920,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of V. Brighton Jones LLC boosted its holdings in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Visa by 68.9% in 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 acquiring an additional 4,817 shares during the last quarter. Algert Global LLC lifted its stake in shares of Visa by 27.0% in the 4th quarter. Algert Global LLC now owns 8,210 shares of the credit-card processor's stock valued at $2,595,000 after acquiring an additional 1,744 shares during the last quarter. Corton Capital Inc. bought a new position in shares of Visa in the 4th quarter valued at $229,000. Finally, CoreCap Advisors LLC lifted its stake in shares of Visa by 7.0% in the 4th quarter. CoreCap Advisors LLC now owns 5,401 shares of the credit-card processor's stock valued at $1,707,000 after acquiring an additional 352 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Down 2.3%

NYSE:V traded down $7.98 during trading hours on Friday, hitting $343.02. 5,447,231 shares of the company were exchanged, compared to its average volume of 5,060,212. The stock has a market capitalization of $628.67 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.28 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The company has a fifty day simple moving average of $348.51 and a 200 day simple moving average of $347.22.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the company posted $2.42 EPS. The business's quarterly revenue was up 14.3% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Analysts Set New Price Targets

V has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. Truist Financial dropped their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Barclays reiterated an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,293 shares of company stock valued at $8,114,295. Corporate insiders own 0.13% of the company's stock.

About Visa

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.