Red Door Wealth Management LLC Raises Position in Visa Inc. (NYSE:V)

Red Door Wealth Management LLC grew its position in Visa Inc. (NYSE:V) by 5.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 29,048 shares of the credit-card processor’s stock after purchasing an additional 1,586 shares during the quarter. Visa accounts for approximately 1.6% of Red Door Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding. Red Door Wealth Management LLC’s holdings in Visa were worth $8,107,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in V. Livelsberger Financial Advisory purchased a new position in shares of Visa during the fourth quarter valued at approximately $25,000. Westend Capital Management LLC bought a new stake in Visa during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in Visa during the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC bought a new stake in Visa during the fourth quarter valued at approximately $33,000. Finally, Valued Wealth Advisors LLC bought a new stake in Visa during the fourth quarter valued at approximately $37,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders have sold a total of 34,402 shares of company stock valued at $9,559,382 over the last 90 days. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on V shares. Citigroup boosted their target price on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group upped their price target on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. Piper Sandler began coverage on shares of Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target for the company. Finally, Oppenheimer upped their price target on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $303.56.

Visa Price Performance

Visa stock traded down $4.12 during mid-day trading on Friday, reaching $262.47. 13,957,270 shares of the company’s stock traded hands, compared to its average volume of 8,762,266. The company has a market cap of $480.04 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 1.80 and a beta of 0.97. The stock has a 50 day moving average of $273.88 and a two-hundred day moving average of $273.50. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $227.68 and a 12-month high of $290.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 earnings per share. Equities analysts forecast that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Visa Profile

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.