Visa Inc. (NYSE:V) Shares Bought by RDA Financial Network

RDA Financial Network grew its stake in Visa Inc. (NYSE:V - Free Report) by 39.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,143 shares of the credit-card processor's stock after purchasing an additional 4,849 shares during the period. Visa comprises approximately 1.8% of RDA Financial Network's investment portfolio, making the stock its 11th largest holding. RDA Financial Network's holdings in Visa were worth $6,008,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in V. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa in the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC lifted its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after buying an additional 32 shares in the last quarter. Compass Planning Associates Inc acquired a new stake in Visa in the 4th quarter valued at $32,000. NewSquare Capital LLC purchased a new stake in Visa in the 4th quarter worth $35,000. Finally, FPC Investment Advisory Inc. raised its position in Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after acquiring an additional 83 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

V stock opened at $370.44 on Friday. The business's fifty day moving average price is $345.45 and its 200 day moving average price is $335.70. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $683.52 billion, a PE ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued 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. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.51 earnings per share. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.64%. Visa's dividend payout ratio is presently 23.72%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on V shares. Piper Sandler lifted their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Oppenheimer restated an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. Finally, Macquarie dropped their price objective on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $372.80.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock worth $58,645,479 over the last 90 days. Corporate insiders own 0.13% of the company's stock.

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.