Novare Capital Management LLC Has $12.21 Million Holdings in Visa Inc. (NYSE:V)

Novare Capital Management LLC increased its position in Visa Inc. (NYSE:V - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 34,846 shares of the credit-card processor's stock after purchasing an additional 944 shares during the period. Novare Capital Management LLC's holdings in Visa were worth $12,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Visa during the 4th quarter valued at $5,171,271,000. GAMMA Investing LLC boosted its stake in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the period. Vanguard Group Inc. boosted its stake in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the period. Northern Trust Corp boosted 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 during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Visa during the 4th quarter valued at $673,689,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on V. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. UBS Group raised their price target on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Barclays restated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Truist Financial began coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating and a $400.00 price target on the stock. Finally, William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.84.

Insider Activity

In other news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.

Visa Price Performance

Shares of Visa stock traded down $2.20 during trading on Thursday, hitting $355.56. 6,115,882 shares of the company's stock traded hands, compared to its average volume of 6,837,809. 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 firm's fifty day moving average price is $356.66 and its 200 day moving average price is $342.11. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a market cap of $656.07 billion, a PE ratio of 35.74, a PEG ratio of 2.40 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the business earned $2.51 EPS. The firm's revenue was up 9.3% on a year-over-year basis. Analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm 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 of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa's dividend payout ratio (DPR) is currently 23.72%.

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.