Albion Financial Group UT Boosts Stake in Visa Inc. (NYSE:V)

Albion Financial Group UT lifted its holdings in Visa Inc. (NYSE:V) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,799 shares of the credit-card processor’s stock after purchasing an additional 153 shares during the quarter. Visa accounts for about 1.4% of Albion Financial Group UT’s investment portfolio, making the stock its 19th biggest holding. Albion Financial Group UT’s holdings in Visa were worth $18,084,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Valeo Financial Advisors LLC grew its holdings in shares of Visa by 1.1% in the first quarter. Valeo Financial Advisors LLC now owns 60,371 shares of the credit-card processor’s stock worth $16,848,000 after acquiring an additional 655 shares during the period. Evolution Wealth Advisors LLC grew its holdings in shares of Visa by 5.8% in the first quarter. Evolution Wealth Advisors LLC now owns 1,853 shares of the credit-card processor’s stock worth $517,000 after acquiring an additional 101 shares during the period. WFA Asset Management Corp grew its holdings in shares of Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 100 shares during the period. Monument Capital Management grew its holdings in shares of Visa by 1.5% in the first quarter. Monument Capital Management now owns 6,208 shares of the credit-card processor’s stock worth $1,732,000 after acquiring an additional 89 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its holdings in shares of Visa by 1.2% in the first quarter. Azzad Asset Management Inc. ADV now owns 30,989 shares of the credit-card processor’s stock worth $8,648,000 after acquiring an additional 378 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.3 %

Shares of NYSE:V traded up $0.76 on Wednesday, reaching $268.99. The company had a trading volume of 5,017,710 shares, compared to its average volume of 6,819,253. Visa Inc. has a 52-week low of $227.68 and a 52-week high of $290.96. The firm’s 50 day simple moving average is $273.58 and its 200-day simple moving average is $273.69. The firm has a market capitalization of $491.97 billion, a PE ratio of 30.03, a PEG ratio of 1.80 and a beta of 0.95. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced 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 business had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $2.09 EPS. As a group, analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s payout ratio is 23.24%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Visa news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on V. Robert W. Baird boosted their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Citigroup upped their price objective on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company upped their price objective on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. TD Cowen assumed coverage on Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.