Visa Inc. (NYSE:V) is Smith Salley Wealth Management's 9th Largest Position

Smith Salley Wealth Management raised its position in Visa Inc. (NYSE:V - Free Report) by 1.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 111,682 shares of the credit-card processor's stock after purchasing an additional 1,126 shares during the period. Visa accounts for approximately 2.6% of Smith Salley Wealth Management's portfolio, making the stock its 9th biggest holding. Smith Salley Wealth Management's holdings in Visa were worth $39,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hirtle Callaghan & Co LLC boosted its stake in shares of Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after buying an additional 29 shares during the period. FWL Investment Management LLC boosted its holdings in shares of Visa by 0.5% in the 4th 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 in the last quarter. Strategic Family Wealth Counselors L.L.C. grew its holdings in shares of Visa by 0.4% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock worth $2,302,000 after purchasing an additional 30 shares during the last quarter. Capstone Financial Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 30 shares during the last quarter. Finally, Headinvest LLC lifted its holdings in shares of 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 purchasing an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

V stock traded up $4.48 on Thursday, reaching $358.70. 3,702,810 shares of the company's stock were exchanged, compared to its average volume of 6,855,011. The stock has a fifty day moving average of $354.87 and a 200-day moving average of $340.67. The firm has a market cap of $661.86 billion, a PE ratio of 36.05, a P/E/G ratio of 2.40 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly 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 business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.51 EPS. 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. Shareholders of record on Tuesday, May 13th were given 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 payout ratio is currently 23.72%.

Analyst Upgrades and Downgrades

Several research firms have commented on V. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Truist Financial started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 target price on the stock. BMO Capital Markets upped their price target on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Piper Sandler increased their price target on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Citigroup started coverage on shares of Visa in a research note 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $372.84.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm'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 $2,978,899.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $185,576.46. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,478 shares of company stock valued at $33,717,733. Corporate insiders own 0.13% of the company's stock.

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.