Visa Inc. (NYSE:V) Shares Acquired by N.E.W. Advisory Services LLC

Key Points

• N.E.W. Advisory Services LLC has increased its holdings in Visa Inc. by 31.0%, acquiring an additional 1,002 shares during the first quarter, bringing their total to 4,234 shares valued at approximately $1.48 million.
• Corporate insiders have been actively selling shares, with General Counsel Julie B. Rottenberg selling 2,575 shares and CEO Ryan Mcinerney selling 8,630 shares, marking significant reductions in their ownership positions.
• Visa recently announced a quarterly dividend of $0.59 per share, which represents an annualized dividend yield of 0.66% and a payout ratio of 23.72%.

N.E.W. Advisory Services LLC grew its holdings in Visa Inc. (NYSE:V - Free Report) by 31.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,234 shares of the credit-card processor's stock after purchasing an additional 1,002 shares during the period. N.E.W. Advisory Services LLC's holdings in Visa were worth $1,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of V. Kirtland Hills Capital Management LLC grew its holdings in shares of Visa by 2.6% in the first quarter. Kirtland Hills Capital Management LLC now owns 13,594 shares of the credit-card processor's stock worth $4,481,000 after acquiring an additional 339 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Visa by 108.0% in the first quarter. Meeder Asset Management Inc. now owns 830 shares of the credit-card processor's stock worth $291,000 after acquiring an additional 431 shares during the period. Meeder Advisory Services Inc. grew its holdings in shares of Visa by 10.2% in the first quarter. Meeder Advisory Services Inc. now owns 31,741 shares of the credit-card processor's stock worth $11,124,000 after acquiring an additional 2,942 shares during the period. Clarendon Private LLC grew its holdings in shares of Visa by 1.5% in the first quarter. Clarendon Private LLC now owns 2,234 shares of the credit-card processor's stock worth $783,000 after acquiring an additional 33 shares during the period. Finally, Marvin & Palmer Associates Inc. bought a new stake in shares of Visa in the first quarter worth $3,142,000. Institutional investors own 82.15% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on V shares. Citigroup started coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. Macquarie boosted their price target on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday. Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Piper Sandler boosted 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, Barclays reiterated an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday. Five equities research 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 company. According to MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Visa Price Performance

Shares of NYSE:V traded down $6.94 during trading on Friday, reaching $338.53. 5,756,968 shares of the company's stock traded hands, compared to its average volume of 6,610,929. The firm has a market cap of $624.65 billion, a PE ratio of 33.07, a P/E/G ratio of 2.36 and a beta of 0.92. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The company has a 50-day simple moving average of $355.36 and a 200-day simple moving average of $346.13. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the company posted $2.42 EPS. The business's revenue was up 14.3% on a year-over-year basis. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company 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. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred 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 sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,913 shares of company stock worth $32,902,432. Corporate insiders own 0.13% of the company's stock.

Visa 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.