Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Visa Inc. (NYSE:V - Free Report) by 115.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,347 shares of the credit-card processor's stock after purchasing an additional 1,795 shares during the period. Visa makes up approximately 2.3% of Mowery & Schoenfeld Wealth Management LLC's holdings, making the stock its 8th largest holding. Mowery & Schoenfeld Wealth Management LLC's holdings in Visa were worth $1,173,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after buying an additional 4,817 shares during the period. Washington Trust Bank grew its stake in shares of Visa by 9.9% in the fourth quarter. Washington Trust Bank now owns 3,582 shares of the credit-card processor's stock worth $1,132,000 after purchasing an additional 324 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Visa in the fourth quarter worth about $787,000. Finally, ZEGA Investments LLC bought a new stake in shares of Visa in the fourth quarter worth about $778,000. Hedge funds and other institutional investors own 82.15% of the company's stock.
Insider Buying and Selling
In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock worth $36,771,200 in the last 90 days. Insiders own 0.13% of the company's stock.
Visa Price Performance
NYSE V opened at $348.90 on Friday. The firm's fifty day simple moving average is $356.82 and its two-hundred day simple moving average is $343.82. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm has a market capitalization of $643.78 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.36 and a beta of 0.92.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data 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 during 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 company's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.51 earnings per share. Analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 0.68%. Visa's dividend payout ratio (DPR) is presently 23.72%.
Analyst Ratings Changes
Several research firms recently issued reports on V. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday. Piper Sandler lifted their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $375.52.
Check Out Our Latest Report on Visa
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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