Sheaff Brock Investment Advisors LLC Boosts Holdings in Visa Inc. (NYSE:V)

Key Points

• Sheaff Brock Investment Advisors LLC increased its holdings in Visa Inc. by 118.0%, owning 23,310 shares worth $8,169,000 at the end of the first quarter.
• Visa's stock recently opened at $356.93, with a 52-week range between $254.51 and $375.51, and it has a market capitalization of $658.60 billion.
• The company's latest financial results showed earnings per share of $2.76, exceeding estimates, and a 9.3% year-over-year revenue growth of $9.59 billion for the quarter.

Sheaff Brock Investment Advisors LLC raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 118.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,310 shares of the credit-card processor's stock after purchasing an additional 12,615 shares during the period. Sheaff Brock Investment Advisors LLC's holdings in Visa were worth $8,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in shares of Visa in the first quarter worth about $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa in the fourth quarter worth about $47,000. Navigoe LLC purchased a new position in shares of Visa in the fourth quarter worth about $53,000. O Brien Wealth Partners LLC purchased a new position in shares of Visa in the first quarter worth about $54,000. Finally, Hurley Capital LLC purchased a new position in shares of Visa in the fourth quarter worth about $56,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the topic of a number of analyst reports. Piper Sandler lifted their target price 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. Macquarie reduced their target price 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. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Mizuho raised 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 note on Thursday, June 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $375.52.

Visa Stock Up 0.8%

Shares of Visa stock opened at $356.93 on Monday. Visa Inc. has a 52-week low of $254.51 and a 52-week high of $375.51. The company has a 50 day moving average of $356.30 and a 200 day moving average of $345.45. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $658.60 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.41 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the firm earned $2.51 earnings per share. The firm's quarterly revenue was up 9.3% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed 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. 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 presently 23.72%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is currently owned by insiders.

Visa 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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.