Ellenbecker Investment Group boosted its holdings in Visa Inc. (NYSE:V – Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,596 shares of the credit-card processor’s stock after acquiring an additional 79 shares during the quarter. Ellenbecker Investment Group’s holdings in Visa were worth $359,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of V. Auxano Advisors LLC grew its stake in shares of Visa by 0.3% during the fourth quarter. Auxano Advisors LLC now owns 14,206 shares of the credit-card processor’s stock worth $2,951,000 after purchasing an additional 45 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of Visa by 1.6% during the first quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock worth $657,000 after purchasing an additional 45 shares during the period. Domani Wealth LLC grew its stake in shares of Visa by 2.7% during the fourth quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock worth $359,000 after purchasing an additional 46 shares during the period. Pitti Group Wealth Management LLC grew its stake in shares of Visa by 1.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 3,802 shares of the credit-card processor’s stock worth $790,000 after purchasing an additional 46 shares during the period. Finally, S.C. Financial Services Inc. grew its stake in shares of Visa by 2.3% during the fourth quarter. S.C. Financial Services Inc. now owns 2,140 shares of the credit-card processor’s stock worth $445,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 84.92% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on V shares. StockNews.com started coverage on Visa in a research note on Thursday, May 18th. They set a “buy” rating for the company. Robert W. Baird boosted their target price on Visa from $272.00 to $284.00 in a research note on Wednesday, April 26th. BMO Capital Markets boosted their target price on Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. Raymond James boosted their target price on Visa from $281.00 to $282.00 in a research note on Wednesday, April 26th. Finally, Oppenheimer boosted their target price on Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $260.08.
Visa Stock Performance
Visa (NYSE:V – Free Report) 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 company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.79 billion. During the same period last year, the firm posted $1.79 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 8.58 earnings per share for the current year.
Visa Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is 24.06%.
Insider Activity
In other news, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $232.55, for a total transaction of $12,591,652.30. Following the transaction, the insider now owns 26,674 shares in the company, valued at $6,203,038.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $232.55, for a total transaction of $12,591,652.30. Following the transaction, the insider now owns 26,674 shares in the company, valued at $6,203,038.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vasant M. Prabhu sold 40,000 shares of the 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 transaction, the chief financial officer now owns 73,638 shares in the company, valued at approximately $17,036,887.68. The disclosure for this sale can be found here. Insiders sold a total of 116,277 shares of company stock valued at $27,018,374 over the last three months. Insiders own 0.22% of the company’s stock.
About Visa
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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