Independent Advisor Alliance Purchases 3,351 Shares of Visa Inc. (NYSE:V)

Key Points

• Independent Advisor Alliance increased its stake in Visa Inc. by 4.3%, owning 81,404 shares after purchasing an additional 3,351 shares.
• Visa's recent earnings report showed an EPS of $2.98, exceeding estimates, with revenue up 14.3% year-over-year.
• The company declared a quarterly dividend of $0.59, to be paid on September 2nd, representing a dividend yield of 0.7%.

Independent Advisor Alliance boosted its position in shares of Visa Inc. (NYSE:V - Free Report) by 4.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 81,404 shares of the credit-card processor's stock after purchasing an additional 3,351 shares during the quarter. Visa comprises about 0.9% of Independent Advisor Alliance's holdings, making the stock its 21st biggest holding. Independent Advisor Alliance's holdings in Visa were worth $28,529,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of V. von Borstel & Associates Inc. bought a new stake in shares of Visa during the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. bought a new position in Visa during the fourth quarter valued at approximately $47,000. Navigoe LLC bought a new position in Visa during the fourth quarter valued at approximately $53,000. O Brien Wealth Partners LLC bought a new position in Visa during the first quarter valued at approximately $54,000. Finally, Global X Japan Co. Ltd. bought a new position in Visa during the first quarter valued at approximately $56,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,100 shares of company stock valued at $27,643,224 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Performance

NYSE V traded up $0.90 on Tuesday, reaching $336.80. 5,682,507 shares of the stock were exchanged, compared to its average volume of 6,302,282. Visa Inc. has a one year low of $258.74 and a one year high of $375.51. The firm has a market capitalization of $617.28 billion, a PE ratio of 32.89, a PEG ratio of 2.24 and a beta of 0.94. The company's 50-day simple moving average is $351.62 and its two-hundred day simple moving average is $347.23. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the business earned $2.42 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. Analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective on the stock. William Blair restated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Truist Financial lowered their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Finally, Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

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.