WT Asset Management Ltd Purchases New Position in Visa Inc. (NYSE:V)

WT Asset Management Ltd acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 63,100 shares of the credit-card processor's stock, valued at approximately $22,114,000. Visa comprises about 2.6% of WT Asset Management Ltd's portfolio, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Lakeridge Wealth Management LLC raised its holdings in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $306,000. Aptus Capital Advisors LLC grew its position in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after buying an additional 30,185 shares during the period. King Wealth Management Group raised its stake in shares of Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after buying an additional 6,172 shares during the last quarter. Finally, Eagle Strategies LLC lifted its holdings in Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Up 1.3%

Shares of NYSE:V traded up $4.48 during midday trading on Thursday, reaching $358.70. The company had a trading volume of 3,702,810 shares, compared to its average volume of 6,847,691. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The stock has a market cap of $661.86 billion, a PE ratio of 36.05, a P/E/G ratio of 2.41 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The business's 50 day moving average price is $354.87 and its 200 day moving average price is $340.67.

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 for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the company earned $2.51 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Piper Sandler boosted their price target on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Susquehanna restated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Finally, Barclays reiterated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and an average price target of $372.84.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,478 shares of company stock worth $33,717,733. Insiders own 0.13% of the company's stock.

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.