Oxinas Partners Wealth Management LLC Buys New Position in Visa Inc. (NYSE:V)

Oxinas Partners Wealth Management LLC purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 706 shares of the credit-card processor's stock, valued at approximately $247,000.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Visa in the fourth quarter valued at about $5,171,271,000. GAMMA Investing LLC increased its position in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the period. Vanguard Group Inc. lifted its position in Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new stake in Visa during the 4th quarter worth approximately $1,955,403,000. Finally, Proficio Capital Partners LLC grew its stake in shares of Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on 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 directly owns 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,948 shares of company stock worth $41,546,299. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on V shares. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Citigroup began coverage on shares of Visa in a report on Monday. They set a "buy" rating for the company. William Blair restated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Truist Financial began coverage on Visa in a research report on Monday. They set a "buy" rating and a $400.00 target price on the stock. Finally, Piper Sandler increased their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $372.80.

Visa Stock Performance

Shares of NYSE:V opened at $366.67 on Friday. The company has a market cap of $676.56 billion, a P/E ratio of 36.96, a PEG ratio of 2.33 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $371.00. The business's 50-day simple moving average is $344.98 and its 200 day simple moving average is $335.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business's revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $2.51 EPS. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is currently 23.72%.

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.

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