Sweet Financial Partners LLC Boosts Holdings in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jun 27th, 2023

Sweet Financial Partners LLC boosted its position in Visa Inc. (NYSE:V – Get Rating) by 14.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,504 shares of the credit-card processor’s stock after buying an additional 1,189 shares during the period. Visa makes up about 0.6% of Sweet Financial Partners LLC’s holdings, making the stock its 29th biggest position. Sweet Financial Partners LLC’s holdings in Visa were worth $2,143,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bridge Advisory LLC purchased a new position in Visa in the 1st quarter valued at $226,000. Cherrydale Wealth Management LLC boosted its position in shares of Visa by 7.9% during the 1st quarter. Cherrydale Wealth Management LLC now owns 1,065 shares of the credit-card processor’s stock worth $240,000 after purchasing an additional 78 shares in the last quarter. Cascade Investment Group Inc. boosted its position in shares of Visa by 1.1% during the 1st quarter. Cascade Investment Group Inc. now owns 7,056 shares of the credit-card processor’s stock worth $1,591,000 after purchasing an additional 79 shares in the last quarter. Heartwood Wealth Advisors LLC boosted its position in shares of Visa by 4.5% during the 1st quarter. Heartwood Wealth Advisors LLC now owns 3,255 shares of the credit-card processor’s stock worth $734,000 after purchasing an additional 140 shares in the last quarter. Finally, Metropolis Capital Ltd boosted its position in shares of Visa by 2.3% during the 1st quarter. Metropolis Capital Ltd now owns 866,215 shares of the credit-card processor’s stock worth $195,297,000 after purchasing an additional 19,736 shares in the last quarter. 84.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the topic of several recent research reports. 22nd Century Group reiterated a “maintains” rating on shares of Visa in a research report on Wednesday, April 26th. Raymond James boosted their price objective on shares of Visa from $281.00 to $282.00 in a research report on Wednesday, April 26th. Royal Bank of Canada boosted their price objective on shares of Visa from $262.00 to $265.00 in a research report on Wednesday, April 26th. StockNews.com initiated coverage on shares of Visa in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, Citigroup boosted their price objective on shares of Visa from $270.00 to $273.00 in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $260.08.

Visa Trading Down 1.4 %

NYSE V opened at $226.30 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Visa Inc. has a 12 month low of $174.60 and a 12 month high of $235.57. The company has a market cap of $423.93 billion, a P/E ratio of 30.25, a P/E/G ratio of 1.76 and a beta of 0.97. The company has a 50-day moving average of $228.47 and a 200-day moving average of $223.40.

Visa (NYSE:V – Get Rating) last issued its earnings results 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. Visa had a return on equity of 50.21% and a net margin of 50.95%. The business had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.79 billion. During the same quarter in the previous year, the business earned $1.79 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 8.59 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Thursday, May 11th. Visa’s payout ratio is currently 24.06%.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 1,288 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $232.97, for a total value of $300,065.36. Following the completion of the transaction, the director now owns 2,542 shares in the company, valued at approximately $592,209.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Visa news, CFO Vasant M. Prabhu sold 13,343 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $234.26, for a total value of $3,125,731.18. Following the completion of the transaction, the chief financial officer now owns 73,638 shares in the company, valued at approximately $17,250,437.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 1,288 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $232.97, for a total value of $300,065.36. Following the completion of the transaction, the director now owns 2,542 shares of the company’s stock, valued at approximately $592,209.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,277 shares of company stock worth $27,018,374. 0.21% of the stock is currently owned by company insiders.

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.