Beacon Financial Group Has $3.18 Million Stake in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jun 26th, 2023

Beacon Financial Group reduced its stake in Visa Inc. (NYSE:V – Get Rating) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,060 shares of the credit-card processor’s stock after selling 848 shares during the period. Beacon Financial Group’s holdings in Visa were worth $3,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Auxano Advisors LLC increased its stake in shares of Visa by 0.3% in the 4th quarter. Auxano Advisors LLC now owns 14,206 shares of the credit-card processor’s stock valued at $2,951,000 after acquiring an additional 45 shares in the last quarter. Wedge Capital Management L L P NC grew its position in Visa by 1.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock valued at $657,000 after purchasing an additional 45 shares during the period. Domani Wealth LLC grew its position in Visa by 2.7% in the 4th quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock valued at $359,000 after purchasing an additional 46 shares during the period. Pitti Group Wealth Management LLC grew its position in Visa by 1.2% in the 4th quarter. Pitti Group Wealth Management LLC now owns 3,802 shares of the credit-card processor’s stock valued at $790,000 after purchasing an additional 46 shares during the period. Finally, S.C. Financial Services Inc. grew its position in Visa by 2.3% in the 4th quarter. S.C. Financial Services Inc. now owns 2,140 shares of the credit-card processor’s stock valued at $445,000 after purchasing an additional 49 shares during the period. 84.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other news, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $232.55, for a total value of $12,591,652.30. Following the sale, the insider now directly owns 26,674 shares of the company’s stock, valued at $6,203,038.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $232.55, for a total value of $12,591,652.30. Following the sale, the insider now directly owns 26,674 shares of the company’s stock, valued at $6,203,038.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vasant M. Prabhu sold 40,000 shares of the stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the completion of the sale, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,036,887.68. The disclosure for this sale can be found here. Insiders have sold a total of 116,277 shares of company stock valued at $27,018,374 over the last three months. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on V. Barclays lifted their price target on shares of Visa from $270.00 to $272.00 in a research report on Monday, May 1st. BMO Capital Markets lifted their price target on shares of Visa from $253.00 to $263.00 in a research report on Wednesday, April 26th. Robert W. Baird lifted their price target on shares of Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. 22nd Century Group reaffirmed a “maintains” rating on shares of Visa in a report on Wednesday, April 26th. Finally, Truist Financial upped their target price on shares of Visa from $260.00 to $270.00 in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $260.08.

Visa Price Performance

NYSE V opened at $229.55 on Monday. The company has a market cap of $430.02 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $235.57. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $228.61 and its two-hundred day simple moving average is $223.28.

Visa (NYSE:V – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. The business 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 company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.79 earnings per share. Research analysts predict that Visa Inc. will post 8.59 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.78%. The ex-dividend date was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is presently 24.06%.

About Visa

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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.