Measured Wealth Private Client Group LLC Trims Holdings in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 2nd, 2023

Measured Wealth Private Client Group LLC cut its holdings in Visa Inc. (NYSE:V – Get Rating) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,895 shares of the credit-card processor’s stock after selling 121 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Visa were worth $394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. McClarren Financial Advisors Inc. bought a new position in Visa in the 3rd quarter worth about $26,000. Global Wealth Strategies & Associates bought a new position in Visa in the 4th quarter worth about $26,000. Cowa LLC bought a new position in Visa in the 3rd quarter worth about $29,000. JDM Financial Group LLC bought a new position in Visa in the 4th quarter worth about $29,000. Finally, McElhenny Sheffield Capital Management LLC bought a new position in Visa in the 4th quarter worth about $31,000. 81.87% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

NYSE V opened at $225.46 on Friday. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $234.30. The firm has a market capitalization of $424.09 billion, a P/E ratio of 31.53, a PEG ratio of 1.74 and a beta of 0.97. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $223.58 and a 200-day moving average price of $209.81.

Visa (NYSE:V – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The credit-card processor reported $2.18 EPS for the quarter, beating the consensus estimate of $2.01 by $0.17. Visa had a net margin of 50.28% and a return on equity of 49.95%. The firm had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 8.43 earnings per share for the current year.

Visa Increases Dividend

The company 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. This represents a $1.80 annualized dividend and a yield of 0.80%. This is a positive change from Visa’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, February 9th. Visa’s dividend payout ratio is currently 25.17%.

Insider Buying and Selling

In related news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $223.99, for a total value of $12,991,420.00. Following the completion of the sale, the chairman now directly owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $223.99, for a total value of $12,991,420.00. Following the completion of the sale, the chairman now directly owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Ryan Mcinerney sold 58,197 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The disclosure for this sale can be found here. In 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.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Visa from $235.00 to $260.00 in a research note on Friday, January 20th. Wells Fargo & Company upped their price target on shares of Visa from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. JPMorgan Chase & Co. upped their target price on shares of Visa from $243.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. UBS Group lowered their target price on shares of Visa from $290.00 to $287.00 and set a “buy” rating on the stock in a research note on Thursday, December 15th. Finally, Wolfe Research upped their target price on shares of Visa from $240.00 to $255.00 in a research note on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $259.11.

Visa Company 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).