Krilogy Financial LLC reduced its stake in Visa Inc. (NYSE:V - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 15,617 shares of the credit-card processor's stock after selling 1,371 shares during the quarter. Krilogy Financial LLC's holdings in Visa were worth $5,473,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. West Branch Capital LLC boosted its position in shares of Visa by 3.3% in the first quarter. West Branch Capital LLC now owns 20,974 shares of the credit-card processor's stock valued at $7,350,000 after acquiring an additional 679 shares during the period. Everhart Financial Group Inc. raised its position in Visa by 11.6% in the first quarter. Everhart Financial Group Inc. now owns 11,239 shares of the credit-card processor's stock worth $3,939,000 after purchasing an additional 1,170 shares in the last quarter. Puff Wealth Management LLC grew its stake in shares of Visa by 3.7% in the 1st quarter. Puff Wealth Management LLC now owns 2,360 shares of the credit-card processor's stock valued at $827,000 after purchasing an additional 84 shares during the period. Hilltop Wealth Advisors LLC acquired a new position in shares of Visa in the 1st quarter worth approximately $334,000. Finally, Twin Peaks Wealth Advisors LLC lifted its position in shares of Visa by 2.0% during the 1st quarter. Twin Peaks Wealth Advisors LLC now owns 1,599 shares of the credit-card processor's stock worth $537,000 after buying an additional 31 shares during the period. 82.15% of the stock is owned by institutional investors.
Visa Trading Down 5.0%
Visa stock traded down $18.65 during mid-day trading on Friday, hitting $352.75. The stock had a trading volume of 14,176,249 shares, compared to its average volume of 7,023,536. The stock has a market capitalization of $650.87 billion, a PE ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a 50-day simple moving average of $349.76 and a two-hundred day simple moving average of $337.45.
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 (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa's payout ratio is presently 23.72%.
Insider Buying and Selling at Visa
In related news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now directly owns 26,413 shares in the company, valued at $8,991,249.33. This trade represents a 59.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $188,186.28. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,448 shares of company stock worth $50,133,659. Insiders own 0.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on V. Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Jefferies Financial Group upped their target price on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Evercore ISI started coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target for the company. William Blair restated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Finally, Truist Financial assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective for the company. Five 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $372.80.
Check Out Our Latest Stock Analysis on Visa
Visa 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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