Three Cord True Wealth Management LLC bought a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 844 shares of the credit-card processor's stock, valued at approximately $267,000. Visa comprises approximately 0.2% of Three Cord True Wealth Management LLC's investment portfolio, making the stock its 24th biggest position.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Riverstone Advisors LLC acquired a new stake in shares of Visa during the fourth quarter worth about $217,000. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa during the fourth quarter worth about $306,000. Aptus Capital Advisors LLC lifted its position in shares of Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after purchasing an additional 30,185 shares in the last quarter. Journey Strategic Wealth LLC lifted its position in shares of Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock worth $3,058,000 after purchasing an additional 1,361 shares in the last quarter. Finally, King Wealth Management Group lifted its position in shares of Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after purchasing an additional 6,172 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Visa Stock Performance
Shares of NYSE V traded up $0.63 during mid-day trading on Wednesday, hitting $359.93. 3,292,680 shares of the company were exchanged, compared to its average volume of 7,008,758. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $369.15. 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 stock has a 50 day simple moving average of $342.15 and a 200-day simple moving average of $332.61. The firm has a market cap of $664.13 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the company earned $2.51 earnings per share. Visa's quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's dividend payout ratio (DPR) is currently 23.72%.
Insider Activity
In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $194,931. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now owns 26,413 shares of the company's stock, valued at approximately $8,991,249.33. This represents a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock worth $41,548,282 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on V shares. Raymond James restated an "outperform" rating and set a $393.00 target price (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Citigroup restated a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. 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 note on Wednesday. Evercore ISI began coverage on shares of Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on shares of Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $366.13.
View Our Latest Stock Analysis on V
Visa Profile
(
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
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