Enzi Wealth Sells 60 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 1st, 2023

Enzi Wealth decreased its stake in shares of Visa Inc. (NYSE:V – Free Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,496 shares of the credit-card processor’s stock after selling 60 shares during the quarter. Enzi Wealth’s holdings in Visa were worth $349,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Fiduciary Alliance LLC raised its stake in Visa by 6.4% in the 1st quarter. Fiduciary Alliance LLC now owns 1,830 shares of the credit-card processor’s stock valued at $413,000 after acquiring an additional 110 shares during the period. Core Alternative Capital raised its stake in Visa by 4.7% in the 1st quarter. Core Alternative Capital now owns 16,806 shares of the credit-card processor’s stock valued at $3,789,000 after acquiring an additional 762 shares during the period. Hedeker Wealth LLC raised its stake in Visa by 4.1% in the 1st quarter. Hedeker Wealth LLC now owns 27,227 shares of the credit-card processor’s stock valued at $6,139,000 after acquiring an additional 1,080 shares during the period. Baron Silver Stevens Financial Advisors LLC raised its stake in Visa by 10.5% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,664 shares of the credit-card processor’s stock valued at $601,000 after acquiring an additional 254 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its position in Visa by 3.4% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 5,258 shares of the credit-card processor’s stock worth $1,185,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 84.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on V. Oppenheimer increased their price objective on Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Truist Financial increased their price objective on Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. Citigroup increased their price objective on Visa from $270.00 to $273.00 in a research report on Wednesday, April 26th. Barclays increased their target price on Visa from $270.00 to $272.00 in a report on Monday, May 1st. Finally, Royal Bank of Canada increased their target price on Visa from $262.00 to $265.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $260.08.

Visa Stock Performance

Shares of V stock opened at $237.48 on Friday. The business’s 50-day moving average price is $228.31 and its 200-day moving average price is $223.80. Visa Inc. has a 12 month low of $174.60 and a 12 month high of $238.28. The firm has a market capitalization of $444.88 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.79 and a beta of 0.97. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Visa (NYSE:V – Free Report) last announced its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 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 firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. During the same period last year, the firm posted $1.79 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 8.58 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders 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 dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is 24.06%.

Insider Transactions at Visa

In other news, CFO Vasant M. Prabhu sold 40,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,036,887.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of Visa stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $231.36, for a total value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vasant M. Prabhu sold 13,343 shares of Visa 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 sale, the chief financial officer now owns 73,638 shares of the company’s stock, valued at $17,250,437.88. The disclosure for this sale can be found here. Insiders sold 116,277 shares of company stock worth $27,018,374 over the last ninety days. 0.22% of the stock is owned by insiders.

Visa Profile

(Free Report)

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.