Visa Inc. (NYSE:V) Shares Purchased by Spectrum Wealth Counsel LLC

Key Points

• Spectrum Wealth Counsel LLC increased its holdings in Visa Inc. by 7.5% in the first quarter, owning 40,739 shares valued at approximately $14 million by the end of the quarter.
• Visa posted $2.76 earnings per share for the recent quarter, exceeding analysts' expectations, with revenues reaching $9.59 billion, marking a 9.3% increase year-over-year.
• The company's recent quarterly dividend was $0.59, resulting in an annualized yield of 0.66%, with a payout ratio of 23.72%.

Spectrum Wealth Counsel LLC boosted its position in Visa Inc. (NYSE:V - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,739 shares of the credit-card processor's stock after purchasing an additional 2,856 shares during the quarter. Visa comprises approximately 1.7% of Spectrum Wealth Counsel LLC's investment portfolio, making the stock its 15th largest position. Spectrum Wealth Counsel LLC's holdings in Visa were worth $14,277,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in V. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the 1st quarter worth $27,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa in the 4th quarter worth $47,000. Navigoe LLC acquired a new stake in shares of Visa in the 4th quarter worth $53,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the 1st quarter worth $54,000. Finally, Hurley Capital LLC acquired a new stake in shares of Visa in the 4th quarter worth $56,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE:V opened at $356.93 on Friday. The firm has a market capitalization of $658.60 billion, a PE ratio of 35.87, a P/E/G ratio of 2.41 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 $356.30 and a two-hundred day moving average of $345.22. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the business earned $2.51 earnings per share. The company's revenue was up 9.3% compared to the same quarter last year. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 over the last quarter. Company insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on V. Piper Sandler increased their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Evercore ISI began coverage on Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target for the company. Barclays reiterated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $375.52.

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.

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