Topsail Wealth Management LLC Boosts Holdings in Visa Inc. (NYSE:V)

Topsail Wealth Management LLC increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,033 shares of the credit-card processor's stock after buying an additional 1,730 shares during the period. Visa comprises 0.5% of Topsail Wealth Management LLC's investment portfolio, making the stock its 21st largest holding. Topsail Wealth Management LLC's holdings in Visa were worth $2,465,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in V. Hirtle Callaghan & Co LLC raised its position in Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after purchasing an additional 29 shares during the last quarter. FWL Investment Management LLC increased its stake in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after buying an additional 29 shares during the period. Capstone Financial Advisors Inc. raised its holdings in Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after buying an additional 30 shares during the last quarter. Headinvest LLC raised its holdings in Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after buying an additional 30 shares during the last quarter. Finally, Kennebec Savings Bank boosted its position in Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after buying an additional 30 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE:V opened at $355.56 on Friday. The company has a 50 day moving average of $356.93 and a 200 day moving average of $342.37. 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 stock has a market cap of $656.07 billion, a P/E ratio of 35.74, a P/E/G ratio of 2.43 and a beta of 0.92. Visa Inc. has a 12 month low of $252.70 and a 12 month 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 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the business earned $2.51 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa's dividend payout ratio is presently 23.72%.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on 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 directly owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock worth $36,771,200 over the last 90 days. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. Barclays reaffirmed an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Macquarie decreased their target price on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Finally, Jefferies Financial Group raised their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Five 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 stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $372.84.

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.

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