Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $10.41 Million Stake in Visa Inc. (NYSE:V)

Key Points

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Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,692 shares of the credit-card processor's stock after acquiring an additional 4,824 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Visa were worth $10,406,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. von Borstel & Associates Inc. bought a new stake in shares of Visa during the 1st quarter worth about $27,000. Measured Risk Portfolios Inc. acquired a new stake in Visa in the 4th quarter worth approximately $47,000. Navigoe LLC bought a new stake in Visa during the fourth quarter worth approximately $53,000. O Brien Wealth Partners LLC bought a new position in shares of Visa in the first quarter valued at approximately $54,000. Finally, Hurley Capital LLC acquired a new stake in shares of Visa in the fourth quarter worth $56,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's 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 directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,913 shares of company stock valued at $32,902,432. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

NYSE:V traded down $6.66 during mid-day trading on Friday, reaching $338.81. 8,655,366 shares of the company were exchanged, compared to its average volume of 6,179,344. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51. The stock has a market cap of $625.16 billion, a PE ratio of 33.09, a PEG ratio of 2.26 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $355.06 and a 200 day moving average of $346.75.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $2.42 EPS. On average, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is currently 23.05%.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Barclays reiterated an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday. Evercore ISI started coverage on Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective on the stock. Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

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.