Sovran Advisors LLC increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 28.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,870 shares of the credit-card processor's stock after acquiring an additional 1,067 shares during the period. Sovran Advisors LLC's holdings in Visa were worth $1,605,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Cohen Investment Advisors LLC grew its position in Visa by 3,263.0% during the 1st quarter. Cohen Investment Advisors LLC now owns 440,386 shares of the credit-card processor's stock worth $154,338,000 after acquiring an additional 427,291 shares during the last quarter. RBA Wealth Management LLC boosted its position in Visa by 0.5% in the 1st quarter. RBA Wealth Management LLC now owns 22,157 shares of the credit-card processor's stock valued at $7,765,000 after buying an additional 106 shares during the last quarter. Joel Isaacson & Co. LLC boosted its position in Visa by 11.2% in the 1st quarter. Joel Isaacson & Co. LLC now owns 8,474 shares of the credit-card processor's stock valued at $2,970,000 after buying an additional 854 shares during the last quarter. TBH Global Asset Management LLC boosted its position in Visa by 34.2% in the 1st quarter. TBH Global Asset Management LLC now owns 14,097 shares of the credit-card processor's stock valued at $4,940,000 after buying an additional 3,589 shares during the last quarter. Finally, Westfuller Advisors LLC boosted its position in Visa by 40.0% in the 1st quarter. Westfuller Advisors LLC now owns 2,112 shares of the credit-card processor's stock valued at $740,000 after buying an additional 603 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,478 shares of company stock worth $33,717,733. Corporate insiders own 0.13% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have commented on the company. Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Barclays reiterated an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective on the stock. Jefferies Financial Group increased their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Finally, Citigroup assumed coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.
Get Our Latest Research Report on Visa
Visa Stock Performance
V stock opened at $355.10 on Tuesday. The business's 50-day moving average price is $354.01 and its two-hundred day moving average price is $340.47. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $655.22 billion, a PE ratio of 35.69, a P/E/G ratio of 2.34 and a beta of 0.94. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51.
Visa (NYSE:V - Get Free Report) last posted its earnings results 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 firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. 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.
See Also
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