Dakota Wealth Management Grows Holdings in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jun 27th, 2023

Dakota Wealth Management increased its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,440 shares of the credit-card processor’s stock after acquiring an additional 2,529 shares during the quarter. Visa comprises about 1.4% of Dakota Wealth Management’s portfolio, making the stock its 7th largest holding. Dakota Wealth Management’s holdings in Visa were worth $21,292,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Nvest Financial LLC grew its stake in shares of Visa by 1.7% in the 1st quarter. Nvest Financial LLC now owns 5,888 shares of the credit-card processor’s stock worth $1,328,000 after buying an additional 98 shares in the last quarter. Ledge Wealth Management Inc. lifted its stake in Visa by 0.8% in the first quarter. Ledge Wealth Management Inc. now owns 6,859 shares of the credit-card processor’s stock worth $1,546,000 after purchasing an additional 57 shares during the last quarter. Wealth Management Partners LLC boosted its position in shares of Visa by 9.1% during the first quarter. Wealth Management Partners LLC now owns 4,365 shares of the credit-card processor’s stock valued at $984,000 after buying an additional 365 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Visa by 3.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,490,793 shares of the credit-card processor’s stock valued at $336,114,000 after buying an additional 51,650 shares during the last quarter. Finally, KFG Wealth Management LLC purchased a new stake in shares of Visa in the first quarter worth approximately $205,000. 84.92% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

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

Visa (NYSE:V – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $7.79 billion. During the same quarter last year, the company earned $1.79 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post 8.59 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Vasant M. Prabhu sold 13,343 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at approximately $17,250,437.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Visa news, CFO Vasant M. Prabhu sold 13,343 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $234.26, for a total transaction of $3,125,731.18. Following the sale, 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 the SEC website. Also, CFO Vasant M. Prabhu sold 40,000 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $231.36, for a total value of $9,254,400.00. Following the completion of the transaction, 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. Over the last quarter, insiders sold 116,277 shares of company stock valued at $27,018,374. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on V shares. Oppenheimer boosted their price objective on Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a report on Wednesday, April 19th. StockNews.com began coverage on shares of Visa in a report on Thursday, May 18th. They issued a “buy” rating on the stock. BMO Capital Markets lifted their price objective on shares of Visa from $253.00 to $263.00 in a report on Wednesday, April 26th. 22nd Century Group restated a “maintains” rating on shares of Visa in a research note on Wednesday, April 26th. Finally, KeyCorp lifted their price target on shares of Visa from $250.00 to $260.00 in a research note on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.08.

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.