Spire Wealth Management raised its position in shares of Visa Inc. (NYSE:V - Free Report) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,291 shares of the credit-card processor's stock after purchasing an additional 4,292 shares during the quarter. Visa accounts for about 0.7% of Spire Wealth Management's investment portfolio, making the stock its 29th largest position. Spire Wealth Management's holdings in Visa were worth $21,831,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. waypoint wealth counsel lifted its holdings in Visa by 30.7% during the first quarter. waypoint wealth counsel now owns 1,146 shares of the credit-card processor's stock valued at $402,000 after purchasing an additional 269 shares in the last quarter. Berkshire Money Management Inc. lifted its holdings in Visa by 7.6% during the first quarter. Berkshire Money Management Inc. now owns 1,481 shares of the credit-card processor's stock valued at $519,000 after purchasing an additional 104 shares in the last quarter. S.A. Mason LLC lifted its holdings in Visa by 2.3% during the first quarter. S.A. Mason LLC now owns 4,810 shares of the credit-card processor's stock valued at $1,686,000 after purchasing an additional 110 shares in the last quarter. Balance Wealth LLC purchased a new position in Visa during the first quarter valued at approximately $204,000. Finally, RAM Investment Partners LLC lifted its holdings in shares of Visa by 19.3% in the first quarter. RAM Investment Partners LLC now owns 2,441 shares of the credit-card processor's stock worth $856,000 after buying an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.
Visa Price Performance
Shares of Visa stock traded up $3.10 during trading hours on Friday, reaching $349.13. The company's stock had a trading volume of 6,588,465 shares, compared to its average volume of 6,878,912. The firm has a 50 day moving average price of $353.30 and a 200-day moving average price of $340.19. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $644.20 billion, a P/E ratio of 35.09, a P/E/G ratio of 2.34 and a beta of 0.94.
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 analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.51 EPS. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa's payout ratio is 23.72%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. UBS Group upped their target price on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. William Blair reiterated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Susquehanna reiterated a "positive" rating on shares of Visa in a report on Friday, March 21st. BMO Capital Markets lifted their price target on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Five 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.
Read Our Latest Analysis on V
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $188,186.28. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,098 shares of company stock worth $36,738,526. Insiders own 0.13% of the company's stock.
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.
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