Sagespring Wealth Partners LLC Has $12.84 Million Position in Visa Inc. (NYSE:V)

Sagespring Wealth Partners LLC grew its stake in Visa Inc. (NYSE:V - Free Report) by 9.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,623 shares of the credit-card processor's stock after purchasing an additional 3,033 shares during the period. Sagespring Wealth Partners LLC's holdings in Visa were worth $12,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Precedent Wealth Partners LLC boosted its position in Visa by 14.3% during the 1st quarter. Precedent Wealth Partners LLC now owns 1,477 shares of the credit-card processor's stock worth $518,000 after buying an additional 185 shares during the period. Adero Partners LLC boosted its position in Visa by 3.9% during the 1st quarter. Adero Partners LLC now owns 4,188 shares of the credit-card processor's stock worth $1,468,000 after buying an additional 159 shares during the period. Northstar Group Inc. boosted its position in Visa by 2.7% during the 1st quarter. Northstar Group Inc. now owns 11,901 shares of the credit-card processor's stock worth $4,171,000 after buying an additional 310 shares during the period. Mission Wealth Management LP boosted its position in Visa by 1.3% during the 1st quarter. Mission Wealth Management LP now owns 51,209 shares of the credit-card processor's stock worth $17,947,000 after buying an additional 682 shares during the period. Finally, Brown Miller Wealth Management LLC boosted its position in Visa by 2.4% during the 1st quarter. Brown Miller Wealth Management LLC now owns 11,074 shares of the credit-card processor's stock worth $3,881,000 after buying an additional 264 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

V opened at $355.23 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company's fifty day moving average price is $350.71 and its two-hundred day moving average price is $338.05. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a market cap of $655.46 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 2.33 and a beta of 0.94.

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

Visa Announces Dividend

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

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 transaction, the chief executive officer now owns 537 shares in the company, valued at $194,807.49. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $17,099,180.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,448 shares of company stock worth $50,133,659. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on V shares. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Barclays restated an "overweight" rating on shares of Visa in a research report on Friday. Jefferies Financial Group boosted their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. 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 price target on the stock. Finally, Macquarie dropped their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $372.80.

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.

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