Visa Inc. (NYSE:V) Shares Acquired by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lifted its holdings in Visa Inc. (NYSE:V - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,677 shares of the credit-card processor's stock after purchasing an additional 2,010 shares during the period. Visa accounts for about 2.1% of Palumbo Wealth Management LLC's investment portfolio, making the stock its 11th biggest holding. Palumbo Wealth Management LLC's holdings in Visa were worth $6,195,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hirtle Callaghan & Co LLC increased its holdings in Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after acquiring an additional 29 shares during the last quarter. FWL Investment Management LLC raised its holdings in shares of Visa by 0.5% during the 4th 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 in the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its position in 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 valued at $2,302,000 after purchasing an additional 30 shares during the last quarter. Capstone Financial Advisors Inc. raised its position in Visa by 3.6% during the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after purchasing an additional 30 shares during the period. Finally, Headinvest LLC increased its position in shares of Visa by 0.8% during the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $362.77, for a total value of $3,127,077.40. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $194,807.49. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction that occurred on 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 now owns 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock worth $36,738,526 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Macquarie reduced their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Piper Sandler boosted their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

Visa Stock Performance

Visa stock traded up $7.90 during midday trading on Tuesday, hitting $351.65. 10,161,625 shares of the company were exchanged, compared to its average volume of 7,056,898. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm has a market capitalization of $648.84 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The business has a fifty day simple moving average of $351.95 and a two-hundred day simple moving average of $339.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V - Get Free Report) last released 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 company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $2.51 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

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.