Pure Financial Advisors LLC lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 18.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,470 shares of the credit-card processor's stock after purchasing an additional 836 shares during the period. Pure Financial Advisors LLC's holdings in Visa were worth $1,917,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Lakeridge Wealth Management LLC increased its holdings in Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after acquiring an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC bought a new position in Visa during the fourth quarter worth about $306,000. Aptus Capital Advisors LLC increased its stake in shares of Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after purchasing an additional 30,185 shares in the last quarter. King Wealth Management Group raised its position in shares of Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after purchasing an additional 6,172 shares during the period. Finally, Eagle Strategies LLC lifted its stake in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after buying an additional 63 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.
Visa Price Performance
Shares of Visa stock opened at $346.54 on Friday. The firm has a market capitalization of $639.42 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The business's 50-day moving average price is $352.91 and its 200-day moving average price is $339.57.
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, beating analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $2.51 earnings per share. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal 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 paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. UBS Group lifted their price target on Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. William Blair reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Barclays restated an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Five equities research 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $372.80.
Check Out Our Latest Research Report on V
Insider Buying and Selling at Visa
In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the 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 sale, the general counsel now owns 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock worth $36,738,526 over the last three months. Company insiders own 0.13% of the company's stock.
About Visa
(
Free Report)
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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