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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