Sequoia Financial Advisors LLC raised its holdings in Visa Inc. (NYSE:V – Free Report) by 3.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,589 shares of the credit-card processor’s stock after buying an additional 1,104 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Visa were worth $6,671,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Global Wealth Strategies & Associates acquired a new stake in shares of Visa during the 4th quarter worth approximately $26,000. JDM Financial Group LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $29,000. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $31,000. Financial Freedom LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $32,000. Finally, St. James Investment Advisors LLC grew its holdings in shares of Visa by 58.7% during the 4th quarter. St. James Investment Advisors LLC now owns 219 shares of the credit-card processor’s stock worth $45,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 84.92% of the company’s stock.
Insider Activity at Visa
In related news, insider Tullier Kelly Mahon sold 54,146 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $232.55, for a total value of $12,591,652.30. Following the completion of the sale, the insider now owns 26,674 shares in the company, valued at $6,203,038.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Visa news, insider Rajat Taneja sold 2,300 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $552,000.00. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $55,706,880. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tullier Kelly Mahon sold 54,146 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 26,674 shares of the company’s stock, valued at $6,203,038.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,602 shares of company stock worth $33,336,374. 0.21% of the stock is owned by insiders.
Visa Trading Up 0.7 %
Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The company had revenue of $7.99 billion during 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 firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.79 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 8.59 EPS for the current year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were given a dividend of $0.45 per share. The ex-dividend date 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 currently 24.06%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Visa from $272.00 to $284.00 in a report on Wednesday, April 26th. Barclays boosted their price target on Visa from $270.00 to $272.00 in a research note on Monday, May 1st. Truist Financial boosted their price target on Visa from $260.00 to $270.00 in a research note on Wednesday, April 26th. BMO Capital Markets boosted their price target on Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. Finally, StockNews.com initiated coverage on Visa in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $262.52.
Visa Company Profile
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.
Read More
- Five stocks we like better than Visa
- 3 Stocks that Analysts Continue to Upgrade into Earnings Season
- Meta Threads Its Way To New HeightsÂ
- Helen of Troy and NanoString Technologies Trade Set-ups
- Profit Taking Hits Home for Specialty Retailers
- The 3 Hot Sectors To Watch During The Summer Reporting Season
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.
