Secure Asset Management LLC Raises Position in Visa Inc. (NYSE:V)

Secure Asset Management LLC boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 11.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,643 shares of the credit-card processor's stock after acquiring an additional 992 shares during the quarter. Secure Asset Management LLC's holdings in Visa were worth $3,379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Park Edge Advisors LLC boosted its stake in shares of Visa by 4.6% in the 1st quarter. Park Edge Advisors LLC now owns 2,651 shares of the credit-card processor's stock valued at $929,000 after purchasing an additional 117 shares during the last quarter. Long Run Wealth Advisors LLC boosted its stake in Visa by 9.3% in the first quarter. Long Run Wealth Advisors LLC now owns 1,499 shares of the credit-card processor's stock valued at $525,000 after acquiring an additional 127 shares during the last quarter. TruWealth Advisors LLC grew its holdings in Visa by 2.1% during the 1st quarter. TruWealth Advisors LLC now owns 56,711 shares of the credit-card processor's stock worth $19,874,000 after acquiring an additional 1,164 shares during the period. Veracity Capital LLC lifted its stake in shares of Visa by 2.1% in the 1st quarter. Veracity Capital LLC now owns 3,137 shares of the credit-card processor's stock valued at $1,099,000 after purchasing an additional 64 shares during the period. Finally, Nixon Peabody Trust Co. boosted its position in shares of Visa by 13.2% in the 1st quarter. Nixon Peabody Trust Co. now owns 2,403 shares of the credit-card processor's stock worth $842,000 after purchasing an additional 281 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

Shares of Visa stock traded down $1.33 on Thursday, reaching $366.67. 6,876,674 shares of the company traded hands, compared to its average volume of 7,004,727. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $676.56 billion, a PE ratio of 36.96, a PEG ratio of 2.33 and a beta of 0.96. The company has a 50 day moving average of $344.66 and a 200 day moving average of $334.72. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $372.43.

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 (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the company posted $2.51 earnings per share. The business's revenue was up 9.3% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler lifted their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target on the stock. UBS Group increased their price objective on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Oppenheimer reaffirmed an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods reiterated a "hold" rating on shares of Visa in a report on Thursday, February 13th. Five investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was 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 of the company's stock, valued at $194,807.49. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 14,813 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the sale, the insider now owns 26,413 shares of the company's stock, valued at approximately $9,377,671.52. The trade was a 35.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,948 shares of company stock worth $41,546,299 in the last three months. Corporate insiders own 0.13% of the company's stock.

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.