Marcum Wealth LLC Purchases 1,993 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 3rd, 2023

Marcum Wealth LLC raised its position in Visa Inc. (NYSE:V – Free Report) by 21.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,451 shares of the credit-card processor’s stock after acquiring an additional 1,993 shares during the period. Marcum Wealth LLC’s holdings in Visa were worth $2,582,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Global Wealth Strategies & Associates acquired a new position in Visa in the fourth quarter worth about $26,000. JDM Financial Group LLC bought a new stake in shares of Visa in the 4th quarter valued at approximately $29,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Visa during the 4th quarter worth approximately $31,000. Financial Freedom LLC bought a new position in shares of Visa during the 4th quarter worth approximately $32,000. Finally, St. James Investment Advisors LLC boosted its stake in Visa by 58.7% in the 4th quarter. St. James Investment Advisors LLC now owns 219 shares of the credit-card processor’s stock valued at $45,000 after buying an additional 81 shares in the last quarter. Institutional investors own 84.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank of Canada lifted their price objective on Visa from $262.00 to $265.00 in a report on Wednesday, April 26th. BMO Capital Markets boosted their price target on shares of Visa from $253.00 to $263.00 in a research report on Wednesday, April 26th. Oppenheimer upped their price objective on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Truist Financial lifted their target price on shares of Visa from $260.00 to $270.00 in a research note on Wednesday, April 26th. Finally, Barclays increased their price target on Visa from $270.00 to $272.00 in a research report on Monday, May 1st. 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. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $260.08.

Visa Price Performance

Visa stock opened at $237.48 on Monday. The firm has a market capitalization of $444.88 billion, a P/E ratio of 31.75, a PEG ratio of 1.82 and a beta of 0.97. The business has a 50-day moving average of $228.31 and a 200-day moving average of $223.95. 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 Inc. has a 1 year low of $174.60 and a 1 year high of $238.28.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The firm had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.79 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 8.58 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were paid 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 payout ratio is presently 24.06%.

Insiders Place Their Bets

In other news, CFO Vasant M. Prabhu sold 13,343 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $234.26, for a total transaction of $3,125,731.18. Following the sale, the chief financial officer now owns 73,638 shares of the company’s stock, valued at $17,250,437.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the 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 owns 73,638 shares in the company, valued at approximately $17,036,887.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vasant M. Prabhu sold 13,343 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were 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 in the company, valued at $17,250,437.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,277 shares of company stock worth $27,018,374. Corporate insiders own 0.21% 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.