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

Novem Group increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 21.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,216 shares of the credit-card processor's stock after purchasing an additional 1,771 shares during the period. Novem Group's holdings in Visa were worth $3,580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Weaver Consulting Group raised its holdings in shares of Visa by 22.0% during the first quarter. Weaver Consulting Group now owns 922 shares of the credit-card processor's stock valued at $323,000 after purchasing an additional 166 shares during the last quarter. Private Trust Co. NA increased its holdings in Visa by 5.8% during the first quarter. Private Trust Co. NA now owns 13,311 shares of the credit-card processor's stock valued at $4,665,000 after buying an additional 730 shares during the last quarter. O Brien Wealth Partners LLC purchased a new stake in Visa during the first quarter valued at approximately $54,000. Arlington Trust Co LLC increased its holdings in Visa by 6.4% during the first quarter. Arlington Trust Co LLC now owns 11,056 shares of the credit-card processor's stock valued at $3,875,000 after buying an additional 662 shares during the last quarter. Finally, Instrumental Wealth LLC increased its holdings in Visa by 5.1% during the first quarter. Instrumental Wealth LLC now owns 806 shares of the credit-card processor's stock valued at $270,000 after buying an additional 39 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction on Thursday, May 1st. The shares were 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 owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is owned by insiders.

Visa Price Performance

Shares of NYSE:V traded down $2.21 during midday trading on Tuesday, reaching $354.43. 6,964,583 shares of the company were exchanged, compared to its average volume of 6,837,239. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The business's fifty day moving average is $356.43 and its two-hundred day moving average is $342.00. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The stock has a market cap of $653.98 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 2.42 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the business earned $2.51 earnings per share. Visa's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio is 23.72%.

Analyst Upgrades and Downgrades

A number of analysts have commented on V shares. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Piper Sandler upped their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. Finally, William Blair reaffirmed an "outperform" rating on shares of Visa in a 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average price target of $372.84.

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.