Aries Wealth Management Cuts Stake in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Mar 27th, 2023

Aries Wealth Management trimmed its position in shares of Visa Inc. (NYSE:V – Get Rating) by 1.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,659 shares of the credit-card processor’s stock after selling 165 shares during the quarter. Visa comprises about 1.2% of Aries Wealth Management’s holdings, making the stock its 20th biggest holding. Aries Wealth Management’s holdings in Visa were worth $2,838,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of V. McClarren Financial Advisors Inc. bought a new position in Visa during the 3rd quarter valued at about $26,000. Global Wealth Strategies & Associates bought a new position in Visa during the 4th quarter valued at about $26,000. Cowa LLC bought a new position in Visa during the 3rd quarter valued at about $29,000. JDM Financial Group LLC bought a new position in Visa during the 4th quarter valued at about $29,000. Finally, McElhenny Sheffield Capital Management LLC bought a new position in Visa during the 4th quarter valued at about $31,000. 81.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of Visa from $250.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. Raymond James upped their target price on shares of Visa from $261.00 to $281.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Barclays upped their target price on shares of Visa from $266.00 to $270.00 and gave the company an “overweight” rating in a research note on Sunday, January 29th. Mizuho increased their price objective on shares of Visa from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, January 30th. Finally, Truist Financial increased their price objective on shares of Visa from $235.00 to $260.00 in a research note on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.11.

Insider Activity at Visa

In related news, insider Rajat Taneja sold 61,721 shares of the firm’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total value of $14,190,892.32. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rajat Taneja sold 61,721 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total value of $14,190,892.32. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,312 shares of company stock valued at $33,751,165. 0.22% of the stock is owned by corporate insiders.

Visa Trading Down 0.7 %

Shares of V opened at $221.04 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $234.30. The company has a 50 day simple moving average of $223.52 and a two-hundred day simple moving average of $209.16. The firm has a market cap of $415.78 billion, a P/E ratio of 30.91, a price-to-earnings-growth ratio of 1.73 and a beta of 0.97.

Visa (NYSE:V – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.17. Visa had a net margin of 50.28% and a return on equity of 49.95%. The business had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same period last year, the firm posted $1.81 EPS. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 8.43 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were issued a $0.45 dividend. The ex-dividend date was Thursday, February 9th. This is a positive change from Visa’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.81%. Visa’s dividend payout ratio (DPR) is 25.17%.

Visa Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).