SOA Wealth Advisors LLC. boosted its position in Visa Inc. (NYSE:V - Free Report) by 738.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,940 shares of the credit-card processor's stock after purchasing an additional 21,085 shares during the period. Visa accounts for about 1.0% of SOA Wealth Advisors LLC.'s portfolio, making the stock its 27th biggest holding. SOA Wealth Advisors LLC.'s holdings in Visa were worth $8,390,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of V. Norges Bank acquired a new stake in shares of Visa in the fourth quarter valued at about $5,171,271,000. GAMMA Investing LLC increased its stake in shares of Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the period. Vanguard Group Inc. increased its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Visa in the fourth quarter valued at about $1,955,403,000. Finally, Proficio Capital Partners LLC increased its stake in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Truist Financial assumed coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating and a $400.00 price target for the company. Susquehanna reissued a "positive" rating on shares of Visa in a research note on Friday, March 21st. Piper Sandler increased their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $372.80.
Get Our Latest Report on Visa
Insider Activity
In other news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now owns 26,413 shares in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,162 shares of company stock worth $58,645,479 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.
Visa Stock Up 1.0%
Shares of NYSE:V opened at $370.44 on Friday. The business's 50 day simple moving average is $345.45 and its two-hundred day simple moving average is $335.70. The firm has a market cap of $683.52 billion, a P/E ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $371.00.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.51 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The business 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 of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. Visa's dividend payout ratio is presently 23.72%.
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.
Further Reading
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).
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