Novem Group Buys 1,771 Shares of Visa Inc. (NYSE:V)

Novem Group raised its stake in Visa Inc. (NYSE:V - Free Report) by 21.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,216 shares of the credit-card processor's stock after acquiring an additional 1,771 shares during the period. Novem Group's holdings in Visa were worth $3,580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of V. Hirtle Callaghan & Co LLC grew its position in shares of Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock worth $724,000 after acquiring an additional 29 shares during the last quarter. FWL Investment Management LLC grew its position in shares of Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after acquiring an additional 29 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. grew its position in shares of Visa by 0.4% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock worth $2,302,000 after acquiring an additional 30 shares during the last quarter. Capstone Financial Advisors Inc. grew its position in shares of Visa by 3.6% during the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock worth $276,000 after acquiring an additional 30 shares during the last quarter. Finally, Headinvest LLC grew its position in shares of Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 1.3%

V stock opened at $358.70 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 stock has a market capitalization of $661.86 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.43 and a beta of 0.92. The business's fifty day moving average price is $355.79 and its two-hundred day moving average price is $341.24. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week 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, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the business earned $2.51 earnings per share. Visa's revenue was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.

Wall Street Analyst Weigh In

V has been the subject of several recent research reports. Susquehanna restated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Oppenheimer upped their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday. Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and increased their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Truist Financial assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 target price for the company. Five 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. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average price target of $372.84.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction dated 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 owned 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa 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 transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock worth $36,771,200 over the last 90 days. Insiders own 0.13% of the company's stock.

Visa 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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