ERTS Wealth Advisors LLC Trims Stock Holdings in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 2nd, 2023

ERTS Wealth Advisors LLC reduced its stake in Visa Inc. (NYSE:V – Free Report) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,435 shares of the credit-card processor’s stock after selling 124 shares during the period. ERTS Wealth Advisors LLC’s holdings in Visa were worth $324,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Global Wealth Strategies & Associates bought a new stake in Visa during the fourth quarter valued at $26,000. JDM Financial Group LLC bought a new stake in shares of Visa during the 4th quarter valued at about $29,000. McElhenny Sheffield Capital Management LLC bought a new stake in Visa during the fourth quarter valued at approximately $31,000. Financial Freedom LLC bought a new stake in shares of Visa during the 4th quarter worth $32,000. Finally, St. James Investment Advisors LLC increased its stake in Visa by 58.7% in 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. Hedge funds and other institutional investors own 84.92% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $237.48 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company has a 50 day simple moving average of $228.31 and a two-hundred day simple moving average of $223.87. Visa Inc. has a fifty-two week low of $174.60 and a fifty-two week high of $238.28. The company has a market capitalization of $444.88 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 1.79 and a beta of 0.97.

Visa (NYSE:V – Free Report) last announced 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 analysts’ expectations of $7.79 billion. During the same quarter in the previous year, the business earned $1.79 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts expect that Visa Inc. will post 8.58 EPS for the current fiscal 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 dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is 24.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on V. BMO Capital Markets increased their price target on shares of Visa from $253.00 to $263.00 in a research report on Wednesday, April 26th. Robert W. Baird increased their price objective on Visa from $272.00 to $284.00 in a research note on Wednesday, April 26th. 22nd Century Group reiterated a “maintains” rating on shares of Visa in a report on Wednesday, April 26th. Truist Financial boosted their price objective on shares of Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. Finally, Oppenheimer increased their target price on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $260.08.

Insider Buying and Selling at Visa

In other news, insider Tullier Kelly Mahon sold 54,146 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $232.55, for a total value 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 legal filing with the SEC, which is available at this link. In other news, Director Lloyd Carney sold 1,288 shares of the business’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $232.97, for a total value of $300,065.36. Following the completion of the transaction, the director now owns 2,542 shares in the company, valued at $592,209.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tullier Kelly Mahon sold 54,146 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $232.55, for a total value of $12,591,652.30. Following the transaction, the insider now directly owns 26,674 shares in the company, valued at $6,203,038.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,277 shares of company stock worth $27,018,374. 0.22% of the stock is owned by corporate 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.