JJJ Advisors Inc. grew its holdings in Visa Inc. (NYSE:V) by 13.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 862 shares of the credit-card processor’s stock after buying an additional 100 shares during the quarter. JJJ Advisors Inc.’s holdings in Visa were worth $183,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of V. Essex Financial Services Inc. lifted its position in Visa by 9.3% in the fourth quarter. Essex Financial Services Inc. now owns 22,867 shares of the credit-card processor’s stock valued at $5,002,000 after acquiring an additional 1,944 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of Visa by 4.1% in the 4th quarter. Ritholtz Wealth Management now owns 10,442 shares of the credit-card processor’s stock valued at $2,284,000 after purchasing an additional 410 shares during the period. Institute for Wealth Management LLC. increased its position in Visa by 4.9% during the fourth quarter. Institute for Wealth Management LLC. now owns 13,588 shares of the credit-card processor’s stock worth $2,972,000 after buying an additional 629 shares during the period. Merrion Investment Management Co LLC purchased a new stake in Visa in the fourth quarter valued at approximately $551,000. Finally, XXEC Inc. grew its position in shares of Visa by 218.3% during the first quarter. XXEC Inc. now owns 36,450 shares of the credit-card processor’s stock worth $7,718,000 after acquiring an additional 25,000 shares during the last quarter. 80.50% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction on Friday, April 30th. The stock was sold at an average price of $235.32, for a total transaction of $2,117,880.00. Following the transaction, the chief executive officer now directly owns 160,112 shares in the company, valued at approximately $37,677,555.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rajat Taneja sold 31,750 shares of the company’s stock in a transaction on Monday, March 8th. The shares were sold at an average price of $223.00, for a total value of $7,080,250.00. Following the completion of the sale, the insider now owns 282,606 shares of the company’s stock, valued at approximately $63,021,138. The disclosure for this sale can be found here. In the last three months, insiders sold 133,843 shares of company stock valued at $29,838,958. Company insiders own 0.19% of the company’s stock.
Several brokerages have issued reports on V. Truist raised their price objective on shares of Visa from $230.00 to $250.00 in a research report on Wednesday, April 28th. Barclays increased their price objective on Visa from $250.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday. Susquehanna Bancshares boosted their target price on Visa from $250.00 to $265.00 and gave the company a “positive” rating in a report on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Visa from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 14th. Finally, Raymond James increased their target price on Visa from $233.00 to $268.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $246.32.
Shares of NYSE:V traded down $1.11 during trading on Tuesday, hitting $231.50. 27,899 shares of the company traded hands, compared to its average volume of 9,462,850. The stock has a market capitalization of $451.96 billion, a price-to-earnings ratio of 47.67, a PEG ratio of 3.80 and a beta of 0.96. Visa Inc. has a one year low of $171.72 and a one year high of $237.50. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average is $221.11 and its 200-day moving average is $210.57.
Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 27th. The credit-card processor reported $1.38 EPS for the quarter, topping the consensus estimate of $1.26 by $0.12. The business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.54 billion. Visa had a net margin of 49.74% and a return on equity of 37.22%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. On average, analysts forecast that Visa Inc. will post 5.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $1.28 dividend on an annualized basis and a yield of 0.55%. Visa’s dividend payout ratio (DPR) is presently 25.40%.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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