Litman Gregory Wealth Management LLC acquired a new position in Visa Inc. (NYSE:V – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,619 shares of the credit-card processor’s stock, valued at approximately $1,041,000. Visa comprises about 0.4% of Litman Gregory Wealth Management LLC’s holdings, making the stock its 16th largest holding.
Other institutional investors also recently bought and sold shares of the company. Atlas Private Wealth Management boosted its holdings in shares of Visa by 1.8% during the 1st quarter. Atlas Private Wealth Management now owns 9,872 shares of the credit-card processor’s stock worth $2,226,000 after purchasing an additional 176 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Visa by 3.6% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 716,776 shares of the credit-card processor’s stock worth $161,604,000 after purchasing an additional 25,200 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of Visa during the 1st quarter worth approximately $210,000. Pinnacle Financial Partners Inc. boosted its holdings in shares of Visa by 5.3% during the 1st quarter. Pinnacle Financial Partners Inc. now owns 416,759 shares of the credit-card processor’s stock worth $93,962,000 after purchasing an additional 20,839 shares during the last quarter. Finally, Monte Financial Group LLC boosted its holdings in shares of Visa by 2.9% during the 1st quarter. Monte Financial Group LLC now owns 5,454 shares of the credit-card processor’s stock worth $1,230,000 after purchasing an additional 155 shares during the last quarter. 84.92% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Visa
In related news, insider Rajat Taneja sold 22,700 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total value of $5,452,767.00. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at $55,755,623.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Visa news, insider Rajat Taneja sold 22,700 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $240.21, for a total value of $5,452,767.00. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at $55,755,623.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vasant M. Prabhu sold 40,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 73,638 shares of the company’s stock, valued at approximately $17,036,887.68. The disclosure for this sale can be found here. Insiders have sold 165,727 shares of company stock valued at $38,891,141 over the last quarter. 0.22% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Visa Stock Up 0.5 %
Visa stock opened at $243.31 on Friday. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $244.26. The stock’s fifty day simple moving average is $230.15 and its 200-day simple moving average is $225.78. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $455.80 billion, a P/E ratio of 32.53, a P/E/G ratio of 1.85 and a beta of 0.97.
Visa (NYSE:V – Get Free Report) last posted 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. Visa had a return on equity of 50.21% and a net margin of 50.95%. The business had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. During the same quarter in the prior year, the company earned $1.79 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that Visa Inc. will post 8.59 earnings per share for the current fiscal year.
Visa Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.74%. The ex-dividend date was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is presently 24.06%.
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.
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