49 Wealth Management LLC Purchases Shares of 1,084 Visa Inc. (NYSE:V)

49 Wealth Management LLC acquired a new position in shares of Visa Inc. (NYSE:V) 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 (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same period in the prior year, the business earned $2.09 earnings per share. Visa’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

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.

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.