FSM Wealth Advisors LLC Sells 254 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 11th, 2023

FSM Wealth Advisors LLC lessened its position in Visa Inc. (NYSE:V – Free Report) by 2.4% in the first quarter, HoldingsChannel.com reports. The fund owned 10,326 shares of the credit-card processor’s stock after selling 254 shares during the period. Visa comprises about 1.4% of FSM Wealth Advisors LLC’s portfolio, making the stock its 20th biggest holding. FSM Wealth Advisors LLC’s holdings in Visa were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of V. Steigerwald Gordon & Koch Inc. lifted its stake in shares of Visa by 1.2% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 77,046 shares of the credit-card processor’s stock worth $17,371,000 after buying an additional 951 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Visa by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 799,904 shares of the credit-card processor’s stock worth $166,188,000 after purchasing an additional 9,534 shares in the last quarter. Occidental Asset Management LLC raised its stake in Visa by 4.3% in the 4th 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 in the last quarter. Private Trust Co. NA raised its stake in Visa by 1.7% in the 4th quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock worth $1,705,000 after purchasing an additional 140 shares in the last quarter. Finally, Foster Group Inc. acquired a new stake in Visa in the 4th quarter worth about $210,000. Institutional investors own 84.92% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Oppenheimer lifted 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 price objective on shares of Visa from $260.00 to $270.00 in a research note on Wednesday, April 26th. StockNews.com started coverage on shares of Visa in a research note on Thursday, May 18th. They issued a “buy” rating for the company. KeyCorp boosted their target price on shares of Visa from $250.00 to $260.00 in a research report on Monday, April 24th. Finally, Raymond James boosted their target price on shares of Visa from $281.00 to $282.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.52.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction 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 directly owns 26,674 shares in the company, valued at $6,203,038.70. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Ryan Mcinerney sold 24,025 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $5,766,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 54,146 shares of the 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 transaction, the insider now directly owns 26,674 shares in the company, valued at $6,203,038.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,602 shares of company stock valued at $33,336,374. 0.21% of the stock is currently owned by insiders.

Visa Trading Up 0.7 %

V opened at $238.14 on Tuesday. Visa Inc. has a fifty-two week low of $174.60 and a fifty-two week high of $240.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $446.11 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.81 and a beta of 0.97. The company’s 50 day moving average price is $229.20 and its two-hundred day moving average price is $225.30.

Visa (NYSE:V – Get Free Report) last posted 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. Visa had a net margin of 50.95% and a return on equity of 50.21%. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. During the same period in the previous year, the firm posted $1.79 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 8.59 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were issued 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 payout ratio is 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.