Simplicity Wealth LLC Has $6.51 Million Holdings in Visa Inc. (NYSE:V)

Simplicity Wealth LLC boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 122.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,575 shares of the credit-card processor's stock after purchasing an additional 10,210 shares during the period. Simplicity Wealth LLC's holdings in Visa were worth $6,510,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in V. Bradley & Co. Private Wealth Management LLC bought a new position in Visa during the fourth quarter worth about $27,000. POM Investment Strategies LLC lifted its position in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Compass Planning Associates Inc acquired a new stake in shares of Visa in the fourth quarter valued at about $32,000. FPC Investment Advisory Inc. raised its stake in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after purchasing an additional 83 shares in the last quarter. Finally, NewSquare Capital LLC bought a new stake in Visa during the fourth quarter worth $35,000. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Macquarie reduced their price target on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Truist Financial started coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 target price for the company. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $372.80.

Visa Price Performance

Shares of NYSE:V traded down $18.21 during trading on Friday, reaching $353.20. 7,376,473 shares of the company traded hands, compared to its average volume of 6,999,471. The firm has a market capitalization of $651.70 billion, a PE ratio of 35.60, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company's 50 day moving average is $348.87 and its two-hundred day moving average is $337.17.

Visa (NYSE:V - Get Free Report) last posted 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. The business had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. Visa's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.51 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is presently 23.72%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 26,413 shares of the company's stock, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,448 shares of company stock valued at $50,133,659. Company insiders own 0.13% of the company's stock.

About Visa

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.