Stokes Capital Advisors LLC raised its position in shares of Visa Inc. (NYSE:V – Get Rating) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,554 shares of the credit-card processor’s stock after buying an additional 156 shares during the period. Visa comprises about 2.4% of Stokes Capital Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Stokes Capital Advisors LLC’s holdings in Visa were worth $7,114,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in V. Global Wealth Strategies & Associates bought a new position in Visa in the 4th quarter worth $26,000. JDM Financial Group LLC bought a new position in Visa in the 4th quarter worth $29,000. McElhenny Sheffield Capital Management LLC bought a new position in Visa in the 4th quarter worth $31,000. Financial Freedom LLC bought a new position in Visa in the 4th quarter worth $32,000. Finally, St. James Investment Advisors LLC raised its holdings in Visa by 58.7% in the 4th quarter. St. James Investment Advisors LLC now owns 219 shares of the credit-card processor’s stock worth $45,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 84.92% of the company’s stock.
Analyst Upgrades and Downgrades
V has been the subject of several research reports. Barclays upped their price objective on shares of Visa from $270.00 to $272.00 in a report on Monday, May 1st. 22nd Century Group reiterated a “maintains” rating on shares of Visa in a research note on Wednesday, April 26th. Oppenheimer increased their price target on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. BMO Capital Markets increased their price target on shares of Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. Finally, Citigroup increased their price target on shares of Visa from $270.00 to $273.00 in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $260.08.
Visa Stock Performance
Visa (NYSE:V – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The company had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.79 earnings per share. As a group, analysts anticipate that Visa Inc. will post 8.59 EPS for the current year.
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, May 11th. Visa’s payout ratio is 24.06%.
Insider Buying and Selling
In other Visa news, insider Tullier Kelly Mahon sold 54,146 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $232.55, for a total transaction of $12,591,652.30. Following the sale, the insider now owns 26,674 shares in the company, valued at approximately $6,203,038.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the sale, the chief financial officer now owns 73,638 shares in the company, valued at approximately $17,036,887.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tullier Kelly Mahon sold 54,146 shares of Visa stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $232.55, for a total transaction of $12,591,652.30. Following the sale, the insider now owns 26,674 shares in the company, valued at approximately $6,203,038.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,277 shares of company stock valued at $27,018,374. 0.21% of the stock is owned by insiders.
About Visa
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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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