Wealthspire Advisors LLC Has $9.07 Million Stock Position in Visa Inc. (NYSE:V)

Key Points

• Wealthspire Advisors LLC increased its stake in Visa Inc. by 6.3% during the first quarter, now owning 25,886 shares valued at approximately $9.07 million.
• Insiders, including CEO Ryan Mcinerney, sold a total of 89,913 shares of Visa stock in the last three months, with Mcinerney reducing his ownership by 94.14%.
• Visa is projected to post 11.3 earnings per share for the current fiscal year, with analysts maintaining a consensus target price of $380.84 on the stock.

Wealthspire Advisors LLC boosted its stake in Visa Inc. (NYSE:V - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,886 shares of the credit-card processor's stock after purchasing an additional 1,537 shares during the quarter. Wealthspire Advisors LLC's holdings in Visa were worth $9,072,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of V. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the 1st quarter valued at about $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa in the fourth quarter valued at $47,000. Navigoe LLC acquired a new stake in Visa during the 4th quarter valued at $53,000. O Brien Wealth Partners LLC acquired a new stake in Visa during the 1st quarter valued at $54,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Visa during the 1st quarter worth $56,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insiders Place Their Bets

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 value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock valued at $27,643,224 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Down 2.3%

V stock traded down $7.76 during mid-day trading on Thursday, hitting $331.98. The stock had a trading volume of 8,793,604 shares, compared to its average volume of 6,237,998. Visa Inc. has a 1-year low of $257.92 and a 1-year high of $375.51. The company has a fifty day moving average of $353.36 and a 200 day moving average of $346.87. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $612.55 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 2.27 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate 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 net margin of 52.16% and a return on equity of 58.93%. The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 earnings per share. On average, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Evercore ISI started coverage on shares of Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. BMO Capital Markets increased their price target on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Barclays restated an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Five 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $380.84.

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.