Alpha Omega Wealth Management LLC Sells 246 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 3rd, 2023

Alpha Omega Wealth Management LLC trimmed its position in Visa Inc. (NYSE:V – Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,825 shares of the credit-card processor’s stock after selling 246 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Visa were worth $2,441,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of V. Janney Montgomery Scott LLC lifted 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 buying an additional 9,534 shares during the last quarter. Occidental Asset Management LLC lifted its position 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 acquiring an additional 465 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Visa by 1.7% during the fourth quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock worth $1,705,000 after acquiring an additional 140 shares during the period. Foster Group Inc. acquired a new position in shares of Visa in the fourth quarter valued at approximately $210,000. Finally, Forsta AP Fonden increased its stake in shares of Visa by 25.8% during the fourth quarter. Forsta AP Fonden now owns 476,286 shares of the credit-card processor’s stock worth $98,953,000 after purchasing an additional 97,600 shares during the period. 84.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Vasant M. Prabhu sold 13,343 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,250,437.88. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Vasant M. Prabhu sold 13,343 shares of the firm’s stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vasant M. Prabhu sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $231.36, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 116,277 shares of company stock worth $27,018,374. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on V shares. Raymond James boosted their price target on Visa from $281.00 to $282.00 in a research note on Wednesday, April 26th. Oppenheimer upped their price target on shares of Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Robert W. Baird lifted their price objective on shares of Visa from $272.00 to $284.00 in a research note on Wednesday, April 26th. StockNews.com initiated coverage on shares of Visa in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Citigroup lifted their price target on shares of Visa from $270.00 to $273.00 in a research report on Wednesday, April 26th. 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $260.08.

Visa Price Performance

Shares of NYSE:V opened at $237.48 on Monday. 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 Inc. has a 52 week low of $174.60 and a 52 week high of $238.28. The firm has a market cap of $444.88 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97. The firm’s fifty day moving average is $228.31 and its 200-day moving average is $223.95.

Visa (NYSE:V – Free Report) last announced its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, topping the consensus estimate of $1.97 by $0.12. The firm had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.79 billion. Visa had a return on equity of 50.21% and a net margin of 50.95%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.79 EPS. Sell-side analysts predict that Visa Inc. will post 8.58 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders 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 of this dividend was Thursday, May 11th. Visa’s dividend payout ratio is presently 24.06%.

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.