Symphony Financial Ltd. Co. Buys 158 Shares of Visa Inc. (NYSE:V)

Symphony Financial Ltd. Co. lifted its stake in shares of Visa Inc. (NYSE:V) by 1.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,228 shares of the credit-card processor’s stock after acquiring an additional 158 shares during the period. Symphony Financial Ltd. Co.’s holdings in Visa were worth $2,855,000 as of its most recent SEC filing.

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

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock valued at $9,559,382 over the last three months. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

V traded down $4.12 during trading on Friday, hitting $262.47. The company’s stock had a trading volume of 13,957,270 shares, compared to its average volume of 8,762,266. 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 one year low of $227.68 and a one year high of $290.96. The firm has a market cap of $480.04 billion, a PE ratio of 29.33, a P/E/G ratio of 1.82 and a beta of 0.97. The business’s 50 day simple moving average is $273.88 and its 200-day simple moving average is $273.50.

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

Visa Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Macquarie boosted their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Evercore ISI reduced their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday. Piper Sandler started coverage on shares of Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price target on the stock. Finally, Citigroup boosted their price target 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. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $303.56.

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.