Visa Inc. (NYSE:V) is AAFMAA Wealth Management & Trust LLC’s 3rd Largest Position

Posted by Defense World Staff on Apr 11th, 2023

AAFMAA Wealth Management & Trust LLC cut its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,898 shares of the credit-card processor’s stock after selling 1,738 shares during the quarter. Visa makes up approximately 5.6% of AAFMAA Wealth Management & Trust LLC’s holdings, making the stock its 3rd biggest holding. AAFMAA Wealth Management & Trust LLC’s holdings in Visa were worth $6,212,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of V. Occidental Asset Management LLC lifted its holdings in shares of Visa by 4.3% during the 4th quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock valued at $2,326,000 after purchasing an additional 465 shares during the last quarter. Private Trust Co. NA raised its stake in Visa by 1.7% in the fourth quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock valued at $1,705,000 after buying an additional 140 shares during the last quarter. Foster Group Inc. acquired a new stake in Visa in the fourth quarter worth about $210,000. First City Capital Management Inc. purchased a new stake in shares of Visa during the third quarter worth about $213,000. Finally, Capital Investment Advisors LLC increased its holdings in shares of Visa by 4.0% during the fourth quarter. Capital Investment Advisors LLC now owns 23,619 shares of the credit-card processor’s stock valued at $4,907,000 after acquiring an additional 899 shares in the last quarter. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $223.99, for a total value of $12,991,420.00. Following the sale, the chairman now owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the sale, the chairman now owns 162,354 shares in the company, valued at $36,365,672.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rajat Taneja sold 61,721 shares of the 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 transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $53,367,191.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,115 shares of company stock valued at $30,115,598. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on V. Barclays boosted their price objective on shares of Visa from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Sunday, January 29th. Raymond James upped their target price on Visa from $261.00 to $281.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Thursday, March 23rd. Truist Financial increased their price objective on shares of Visa from $235.00 to $260.00 in a research note on Friday, January 20th. Finally, Wells Fargo & Company upped their price target on shares of Visa from $250.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, January 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $259.11.

Visa Price Performance

Visa stock opened at $226.43 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. Visa Inc. has a one year low of $174.60 and a one year high of $234.30. The company has a market cap of $425.91 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The business has a fifty day moving average of $223.68 and a two-hundred day moving average of $211.40.

Visa (NYSE:V – Get Rating) last announced its quarterly earnings data 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 analysts’ expectations of $7.70 billion. During the same quarter last year, the business earned $1.81 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 8.43 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a $0.45 dividend. This is an increase from Visa’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, February 9th. Visa’s dividend payout ratio (DPR) is presently 25.17%.

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).