Joel Isaacson & Co. LLC Sells 375 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 11th, 2023

Joel Isaacson & Co. LLC reduced its stake in shares of Visa Inc. (NYSE:V – Free Report) by 5.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,923 shares of the credit-card processor’s stock after selling 375 shares during the period. Joel Isaacson & Co. LLC’s holdings in Visa were worth $1,561,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in V. Global Wealth Strategies & Associates bought a new stake in Visa in the fourth quarter worth $26,000. JDM Financial Group LLC bought a new stake in Visa in the fourth quarter worth $29,000. McElhenny Sheffield Capital Management LLC bought a new stake in Visa in the fourth quarter worth $31,000. Financial Freedom LLC bought a new stake in Visa in the fourth quarter worth $32,000. Finally, St. James Investment Advisors LLC lifted 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 worth $45,000 after purchasing an additional 81 shares during the last quarter. 84.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

V has been the subject of several recent research reports. KeyCorp boosted their price target on shares of Visa from $250.00 to $260.00 in a research note on Monday, April 24th. Royal Bank of Canada boosted their price objective on shares of Visa from $262.00 to $265.00 in a research report on Wednesday, April 26th. Robert W. Baird boosted their price objective on shares of Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. Raymond James boosted their price objective on shares of Visa from $281.00 to $282.00 in a research report on Wednesday, April 26th. Finally, Truist Financial boosted their price objective on shares of Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.52.

Insider Transactions at Visa

In other news, CFO Vasant M. Prabhu sold 40,000 shares of the company’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 transaction, the chief financial officer now owns 73,638 shares in the company, valued at $17,036,887.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following the transaction, the chairman now owns 154,854 shares in the company, valued at $36,060,850.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Vasant M. Prabhu sold 40,000 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the transaction, the chief financial officer now owns 73,638 shares in the company, valued at approximately $17,036,887.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,602 shares of company stock worth $33,336,374. Corporate insiders own 0.21% of the company’s stock.

Visa Price Performance

Shares of V opened at $238.14 on Tuesday. The stock has a market cap of $446.11 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 1.81 and a beta of 0.97. 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 fifty-two week low of $174.60 and a fifty-two week high of $240.00. The firm’s 50-day simple moving average is $229.20 and its two-hundred day simple moving average is $225.30.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $7.99 billion for 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 was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.79 earnings per share. Analysts anticipate that Visa Inc. will post 8.59 earnings per share for the current fiscal 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 paid a $0.45 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.80 annualized dividend and a dividend yield of 0.76%. 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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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