49 Wealth Management LLC acquired a new position in shares of Visa Inc. (NYSE:V – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,084 shares of the credit-card processor’s stock, valued at approximately $302,000.
A number of other hedge funds have also modified their holdings of V. Livelsberger Financial Advisory purchased a new stake in shares of Visa in the fourth quarter valued at $25,000. Westend Capital Management LLC purchased a new stake in Visa in the 1st quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in Visa during the 4th quarter worth about $32,000. Frank Rimerman Advisors LLC purchased a new position in Visa during the 4th quarter valued at about $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Visa in the 4th quarter valued at about $37,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Visa Stock Performance
NYSE:V traded up $3.19 during mid-day trading on Friday, hitting $265.74. 6,627,767 shares of the company’s stock traded hands, compared to its average volume of 9,662,722. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $272.82 and a two-hundred day moving average of $274.01. The firm has a market capitalization of $486.02 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 1.85 and a beta of 0.95. Visa Inc. has a 12 month low of $227.68 and a 12 month high of $290.96.
Visa Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s dividend payout ratio is 23.24%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. TD Cowen started coverage on shares of Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price target on the stock. Piper Sandler assumed coverage on Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective for the company. Bank of America restated a “neutral” rating and issued a $297.00 target price (down previously from $305.00) on shares of Visa in a research note on Wednesday. Finally, Oppenheimer upped their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $304.44.
Read Our Latest Stock Analysis on Visa
Insider Transactions at Visa
In other Visa news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated 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 approximately $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were 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 directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
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.
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