VCI Wealth Management LLC Acquires New Shares in Visa Inc. (NYSE:V)

VCI Wealth Management LLC purchased a new stake in shares of Visa Inc. (NYSE:V - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 917 shares of the credit-card processor's stock, valued at approximately $321,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Visa by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares during the last quarter. Capital International Investors lifted its stake in shares of Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after buying an additional 866,596 shares in the last quarter. Capital World Investors lifted its stake in shares of Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Visa during the 4th quarter valued at $5,171,271,000. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is owned by company insiders.

Visa Stock Performance

Shares of Visa stock traded up $1.10 during midday trading on Tuesday, hitting $352.04. The company had a trading volume of 4,612,992 shares, compared to its average volume of 6,786,416. Visa Inc. has a 1-year low of $252.70 and a 1-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 business's 50 day simple moving average is $356.82 and its two-hundred day simple moving average is $344.02. The stock has a market cap of $649.56 billion, a PE ratio of 35.38, a P/E/G ratio of 2.37 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.51 earnings per share. As a group, equities analysts predict 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 given a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. Visa's payout ratio is currently 23.72%.

Analysts Set New Price Targets

V has been the topic of a number of recent analyst reports. Barclays reissued an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Citigroup initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, UBS Group raised their price target on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $375.52.

Visa Company Profile

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.