Riversedge Advisors LLC Takes Position in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 2nd, 2023

Riversedge Advisors LLC acquired a new position in shares of Visa Inc. (NYSE:V – Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,432 shares of the credit-card processor’s stock, valued at approximately $323,000.

Several other institutional investors have also added to or reduced their stakes in V. Janney Montgomery Scott LLC grew its stake in shares of Visa by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 799,904 shares of the credit-card processor’s stock worth $166,188,000 after acquiring an additional 9,534 shares in the last quarter. Occidental Asset Management LLC boosted its holdings in Visa by 4.3% during the fourth quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock worth $2,326,000 after purchasing an additional 465 shares during the last quarter. Private Trust Co. NA grew its position in Visa by 1.7% in the fourth quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock valued at $1,705,000 after purchasing an additional 140 shares in the last quarter. Foster Group Inc. acquired a new stake in Visa in the 4th quarter valued at $210,000. Finally, Forsta AP Fonden lifted its position in Visa by 25.8% during the 4th quarter. Forsta AP Fonden now owns 476,286 shares of the credit-card processor’s stock worth $98,953,000 after buying an additional 97,600 shares in the last quarter. 84.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on V. StockNews.com began coverage on Visa in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Oppenheimer upped their price objective on Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Robert W. Baird raised their target price on shares of Visa from $272.00 to $284.00 in a research note on Wednesday, April 26th. KeyCorp upped their price target on shares of Visa from $250.00 to $260.00 in a research report on Monday, April 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Visa from $262.00 to $265.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $260.08.

Visa Stock Up 1.3 %

V opened at $237.48 on Friday. The stock has a fifty day moving average of $228.31 and a 200-day moving average of $223.87. The company has a market capitalization of $444.88 billion, a P/E ratio of 31.75, a P/E/G ratio of 1.79 and a beta of 0.97. Visa Inc. has a fifty-two week low of $174.60 and a fifty-two week high of $238.28. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Visa (NYSE:V – Free Report) last issued its quarterly earnings data 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 net margin of 50.95% and a return on equity of 50.21%. 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 company earned $1.79 EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 8.58 EPS for the current year.

Visa Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, May 11th. Visa’s dividend payout ratio is currently 24.06%.

Insiders Place Their Bets

In other news, insider Tullier Kelly Mahon sold 54,146 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 26,674 shares in the company, valued at approximately $6,203,038.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $12,591,652.30. Following the completion of the sale, the insider now owns 26,674 shares of the company’s stock, valued at approximately $6,203,038.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vasant M. Prabhu sold 13,343 shares of Visa stock in a transaction that occurred on 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 transaction, 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. Insiders have sold a total of 116,277 shares of company stock worth $27,018,374 in the last 90 days. Company insiders own 0.22% of the company’s stock.

About Visa

(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.