Ritholtz Wealth Management raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,295 shares of the credit-card processor's stock after buying an additional 2,957 shares during the period. Visa comprises about 0.6% of Ritholtz Wealth Management's investment portfolio, making the stock its 24th biggest holding. Ritholtz Wealth Management's holdings in Visa were worth $21,481,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC bought a new stake in Visa in the fourth quarter worth approximately $27,000. Compass Planning Associates Inc acquired a new stake in shares of Visa in the 4th quarter valued at $32,000. NewSquare Capital LLC bought a new stake in Visa in the fourth quarter worth $35,000. FPC Investment Advisory Inc. increased its position in Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after buying an additional 83 shares during the last quarter. Finally, Sellwood Investment Partners LLC bought a new position in Visa during the fourth quarter valued at about $41,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Visa Price Performance
Shares of V stock traded up $5.33 during mid-day trading on Monday, reaching $358.18. The company's stock had a trading volume of 2,559,562 shares, compared to its average volume of 7,000,440. The firm's 50-day moving average is $349.76 and its two-hundred day moving average is $337.77. The company has a market cap of $660.89 billion, a P/E ratio of 36.09, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during 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 quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.51 earnings per share. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The business 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. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa's payout ratio is presently 23.72%.
Insider Buying and Selling
In other Visa news, 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 transaction, the insider now directly owns 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $188,186.28. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,448 shares of company stock worth $50,133,659 in the last 90 days. 0.13% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
V has been the topic of a number of analyst reports. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective on the stock. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Piper Sandler upped their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. BMO Capital Markets lifted their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Susquehanna restated a "positive" rating on shares of Visa in a report on Friday, March 21st. Five 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.
Check Out Our Latest Stock Analysis on V
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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