Obermeyer Wood Investment Counsel Lllp raised its stake in shares of Visa Inc. (NYSE:V – Free Report) by 61.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,749 shares of the credit-card processor’s stock after purchasing an additional 7,491 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Visa were worth $5,512,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nadler Financial Group Inc. lifted its stake in shares of Visa by 2.4% in the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after buying an additional 44 shares in the last quarter. Towerpoint Wealth LLC purchased a new position in shares of Visa in the fourth quarter worth about $216,000. Andrew Hill Investment Advisors Inc. purchased a new position in shares of Visa in the fourth quarter worth about $3,427,000. Richelieu Gestion SA purchased a new position in shares of Visa in the fourth quarter worth about $307,000. Finally, Cooper Financial Group lifted its stake in shares of Visa by 6.4% in the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after buying an additional 476 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Bank of America restated a “neutral” rating and set a $297.00 price objective (down from $305.00) on shares of Visa in a research report on Wednesday. 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 objective for the company. TD Cowen started coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. Finally, Oppenheimer raised their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six 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 $304.44.
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Visa Trading Up 1.2 %
NYSE V opened at $265.74 on Friday. The firm has a 50 day simple moving average of $272.82 and a 200-day simple moving average of $274.01. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. 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 $486.02 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 1.85 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter last year, the firm posted $2.09 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors 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 yield of 0.78%. Visa’s dividend payout ratio is currently 23.24%.
Insider Buying and Selling
In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on 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 owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.
Visa Company 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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