Bigelow Investment Advisors LLC Sells 661 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 9th, 2023

Bigelow Investment Advisors LLC reduced its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,061 shares of the credit-card processor’s stock after selling 661 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Visa were worth $844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in V. BCK Partners Inc. bought a new stake in Visa during the 1st quarter worth approximately $2,717,000. Markel Corp boosted its stake in Visa by 0.3% in the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock worth $213,144,000 after purchasing an additional 3,065 shares in the last quarter. AMI Investment Management Inc. bought a new stake in shares of Visa during the first quarter worth $2,323,000. Ergoteles LLC acquired a new stake in shares of Visa in the first quarter valued at $538,000. Finally, XTX Topco Ltd bought a new position in shares of Visa in the first quarter valued at about $1,496,000. Institutional investors and hedge funds own 81.87% of the company’s stock.

Insiders Place Their Bets

In related news, insider Rajat Taneja sold 61,721 shares of Visa stock in a transaction that occurred 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 sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $53,367,191.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 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 can be accessed through the SEC website. Also, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the sale, the chairman now directly owns 162,354 shares in the company, valued at $36,365,672.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,312 shares of company stock worth $33,751,165. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on V. Robert W. Baird increased their price objective on shares of Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, January 19th. Truist Financial raised their price target on shares of Visa from $235.00 to $260.00 in a report on Friday, January 20th. Wolfe Research upped their price objective on Visa from $240.00 to $255.00 in a report on Thursday, January 5th. Wells Fargo & Company increased their price objective on Visa from $250.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. Finally, Credit Suisse Group boosted their target price on Visa from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.

Visa Stock Down 1.0 %

Shares of Visa stock opened at $225.99 on Friday. The company has a market capitalization of $425.09 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50-day moving average of $223.74 and a two-hundred day moving average of $210.95. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $234.30.

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

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid 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 yield of 0.80%. Visa’s dividend payout ratio is presently 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).