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Visa Inc. (NYSE:V) Shares Purchased by AlphaStar Capital Management LLC

Visa logo with Business Services background

AlphaStar Capital Management LLC lifted its holdings in Visa Inc. (NYSE:V - Free Report) by 8.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,439 shares of the credit-card processor's stock after purchasing an additional 1,198 shares during the quarter. Visa comprises about 0.6% of AlphaStar Capital Management LLC's portfolio, making the stock its 27th biggest position. AlphaStar Capital Management LLC's holdings in Visa were worth $5,411,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in V. Sovereign Investment Advisors LLC purchased a new position in shares of Visa during the 4th quarter valued at about $424,000. Brighton Jones LLC raised its stake in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Visa by 2.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 639,608 shares of the credit-card processor's stock valued at $202,142,000 after buying an additional 14,367 shares during the last quarter. Finally, Highview Capital Management LLC DE raised its stake in shares of Visa by 3.1% during the 4th quarter. Highview Capital Management LLC DE now owns 19,997 shares of the credit-card processor's stock valued at $6,320,000 after buying an additional 604 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Up 0.7%

Shares of NYSE V opened at $356.90 on Thursday. The company has a market capitalization of $658.54 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. 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 business has a 50-day moving average of $356.66 and a two-hundred day moving average of $342.11. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51.

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. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.51 EPS. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is currently 23.72%.

Analyst Ratings Changes

A number of equities analysts have weighed in on V shares. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Piper Sandler boosted their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Finally, Truist Financial initiated coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective on the stock. Five equities 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.84.

Read Our Latest Stock Report on Visa

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction dated 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 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. In the last three months, insiders sold 101,108 shares of company stock valued at $36,771,200. Insiders own 0.13% of the company's stock.

Visa Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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.

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