Wealth Enhancement Advisory Services LLC boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 22.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 867,704 shares of the credit-card processor's stock after buying an additional 161,161 shares during the quarter. Visa makes up 0.6% of Wealth Enhancement Advisory Services LLC's holdings, making the stock its 27th biggest holding. Wealth Enhancement Advisory Services LLC's holdings in Visa were worth $304,096,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the business. Hirtle Callaghan & Co LLC increased its position in shares of Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after buying an additional 29 shares in the last quarter. FWL Investment Management LLC grew its stake in Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares during the period. Valmark Advisers Inc. increased its holdings in Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock worth $2,292,000 after acquiring an additional 30 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. raised its position in Visa by 0.4% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock worth $2,302,000 after acquiring an additional 30 shares during the period. Finally, Capstone Financial Advisors Inc. lifted its holdings in Visa by 3.6% during the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after purchasing an additional 30 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Trading Down 4.9%
Shares of V stock opened at $340.16 on Thursday. The business's fifty day moving average price is $351.38 and its 200 day moving average price is $338.20. 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 firm has a market capitalization of $627.64 billion, a PE ratio of 34.19, a P/E/G ratio of 2.41 and a beta of 0.94. 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 earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.51 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa's dividend payout ratio is presently 23.72%.
Analyst Ratings Changes
V has been the topic of several research reports. Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. Finally, Barclays restated an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Five investment 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $372.80.
Read Our Latest Stock Report on V
Insiders Place Their Bets
In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's 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 sale, the general counsel now owns 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale 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 company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock worth $36,738,526 over the last three months. 0.13% of the stock is owned by insiders.
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.
Further Reading
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