Visa Inc. (NYSE:V) Shares Sold by Buckley Wealth Management LLC

Posted by Defense World Staff on Jun 27th, 2023

Buckley Wealth Management LLC lessened its stake in Visa Inc. (NYSE:V – Get Rating) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,358 shares of the credit-card processor’s stock after selling 342 shares during the quarter. Buckley Wealth Management LLC’s holdings in Visa were worth $983,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Moneta Group Investment Advisors LLC lifted its holdings in shares of Visa by 116,608.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after acquiring an additional 24,483,134 shares in the last quarter. Norges Bank acquired a new position in shares of Visa during the fourth quarter worth about $3,067,232,000. Morgan Stanley boosted its position in shares of Visa by 13.0% in the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after buying an additional 5,864,340 shares during the period. Cottage Street Advisors LLC grew its stake in shares of Visa by 15,603.1% in the fourth quarter. Cottage Street Advisors LLC now owns 3,156,323 shares of the credit-card processor’s stock valued at $998,000 after buying an additional 3,136,223 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Visa by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,100,136 shares of the credit-card processor’s stock valued at $10,616,564,000 after buying an additional 2,216,275 shares during the period. Institutional investors and hedge funds own 84.92% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $226.30 on Tuesday. The company has a market cap of $423.93 billion, a P/E ratio of 30.25, a PEG ratio of 1.76 and a beta of 0.97. The business has a 50 day moving average of $228.47 and a two-hundred day moving average of $223.40. 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.

Visa (NYSE:V – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $7.79 billion. During the same quarter in the previous year, the firm posted $1.79 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 8.59 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.80 annualized dividend and a yield of 0.80%. Visa’s dividend payout ratio is presently 24.06%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Oppenheimer upped their price target on Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. 22nd Century Group reaffirmed a “maintains” rating on shares of Visa in a research note on Wednesday, April 26th. Barclays boosted their price objective on shares of Visa from $270.00 to $272.00 in a report on Monday, May 1st. Truist Financial lifted their target price on Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. Finally, Raymond James increased their price target on Visa from $281.00 to $282.00 in a report 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $260.08.

Insider Buying and Selling at Visa

In related news, CFO Vasant M. Prabhu sold 13,343 shares of the firm’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 sale, the chief financial officer now directly owns 73,638 shares in the company, valued at approximately $17,250,437.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Vasant M. Prabhu sold 13,343 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $234.26, for a total value of $3,125,731.18. Following the completion of the sale, the chief financial officer now owns 73,638 shares of the company’s stock, valued at $17,250,437.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tullier Kelly Mahon sold 54,146 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 26,674 shares in the company, valued at approximately $6,203,038.70. The disclosure for this sale can be found here. Insiders sold 116,277 shares of company stock valued at $27,018,374 in the last ninety days. Company insiders own 0.21% of the company’s stock.

Visa Profile

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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.