Argent Advisors Inc. Buys 1,061 Shares of Visa Inc. (NYSE:V)

Argent Advisors Inc. raised its stake in Visa Inc. (NYSE:V - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,350 shares of the credit-card processor's stock after purchasing an additional 1,061 shares during the quarter. Visa accounts for about 0.9% of Argent Advisors Inc.'s portfolio, making the stock its 27th biggest position. Argent Advisors Inc.'s holdings in Visa were worth $2,556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of V. Kingsman Wealth Management Inc. bought a new position in shares of Visa during the first quarter valued at about $1,935,000. Red Cedar Investment Management LLC increased its stake in Visa by 31.1% in the 1st quarter. Red Cedar Investment Management LLC now owns 9,461 shares of the credit-card processor's stock valued at $3,316,000 after buying an additional 2,247 shares during the last quarter. Valley National Advisers Inc. lifted its position in shares of Visa by 5.9% during the 1st quarter. Valley National Advisers Inc. now owns 789 shares of the credit-card processor's stock worth $276,000 after buying an additional 44 shares in the last quarter. Jacobsen Capital Management boosted its stake in shares of Visa by 3.1% in the 1st quarter. Jacobsen Capital Management now owns 4,982 shares of the credit-card processor's stock worth $1,746,000 after buying an additional 148 shares during the last quarter. Finally, Northwest Wealth Management LLC boosted its stake in shares of Visa by 23.2% in the 1st quarter. Northwest Wealth Management LLC now owns 950 shares of the credit-card processor's stock worth $333,000 after buying an additional 179 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on 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 completion of the transaction, the insider directly owned 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $194,807.49. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,478 shares of company stock worth $33,717,733 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Barclays reaffirmed an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday. Truist Financial initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 price target for the company. Finally, Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Visa presently has an average rating of "Moderate Buy" and an average target price of $372.84.

Visa Price Performance

V traded down $1.48 during trading on Wednesday, reaching $353.99. 5,130,608 shares of the company were exchanged, compared to its average volume of 6,867,561. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company's 50-day moving average is $354.48 and its two-hundred day moving average is $340.57. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $653.17 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.39 and a beta of 0.92.

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

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is presently 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.