Transform Wealth LLC lifted its holdings in Visa Inc. (NYSE:V – Get Rating) by 95.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,947 shares of the credit-card processor’s stock after buying an additional 13,656 shares during the period. Transform Wealth LLC’s holdings in Visa were worth $6,301,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Global Wealth Strategies & Associates purchased a new position in Visa during the fourth quarter worth about $26,000. JDM Financial Group LLC acquired a new stake in shares of Visa during the fourth quarter valued at about $29,000. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Visa during the fourth quarter valued at about $31,000. Financial Freedom LLC acquired a new stake in shares of Visa during the fourth quarter valued at about $32,000. Finally, St. James Investment Advisors LLC increased its position in shares of Visa by 58.7% during the fourth quarter. St. James Investment Advisors LLC now owns 219 shares of the credit-card processor’s stock valued at $45,000 after acquiring an additional 81 shares during the last quarter. 84.92% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Oppenheimer lifted their price target on shares of Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research report on Wednesday, April 19th. 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. BMO Capital Markets lifted their price objective on shares of Visa from $253.00 to $263.00 in a report on Wednesday, April 26th. StockNews.com assumed coverage on shares of Visa in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Truist Financial boosted their price target on shares of Visa from $260.00 to $270.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $260.08.
Visa Stock Up 0.5 %
Visa (NYSE:V – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The company had revenue of $7.99 billion during 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%. Visa’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.79 EPS. Sell-side analysts expect that Visa Inc. will post 8.59 earnings per share for the current year.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a yield of 0.79%. Visa’s payout ratio is currently 24.06%.
Insiders Place Their Bets
In other news, CFO Vasant M. Prabhu sold 40,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at approximately $17,036,887.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, 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 sale, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at approximately $17,036,887.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vasant M. Prabhu sold 13,343 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $234.26, for a total transaction of $3,125,731.18. Following the completion of the sale, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,250,437.88. 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 owned by insiders.
Visa Company Profile
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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