Fifth Third Wealth Advisors LLC Purchases Shares of 1,796 Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 16th, 2023

Fifth Third Wealth Advisors LLC purchased a new stake in shares of Visa Inc. (NYSE:V – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,796 shares of the credit-card processor’s stock, valued at approximately $405,000.

Other hedge funds have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new stake in Visa during the 4th quarter valued at $26,000. JDM Financial Group LLC acquired a new stake in shares of Visa during the fourth quarter worth $29,000. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Visa during the fourth quarter worth $31,000. Financial Freedom LLC acquired a new stake in shares of Visa during the fourth quarter worth $32,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Visa during the first quarter worth $35,000. Institutional investors and hedge funds own 84.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on Visa from $262.00 to $265.00 in a report on Wednesday, April 26th. Robert W. Baird lifted their target price on Visa from $272.00 to $284.00 in a report on Wednesday, April 26th. BMO Capital Markets raised their price target on Visa from $253.00 to $263.00 in a research report on Wednesday, April 26th. 22nd Century Group restated a “maintains” rating on shares of Visa in a research report on Wednesday, April 26th. Finally, Truist Financial raised their price target on Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $262.52.

Insider Transactions at Visa

In other news, CFO Vasant M. Prabhu sold 40,000 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the sale, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,036,887.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Ryan Mcinerney sold 425 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $240.00, for a total value of $102,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief financial officer now owns 73,638 shares in the company, valued at $17,036,887.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,727 shares of company stock worth $38,891,141. Insiders own 0.22% of the company’s stock.

Visa Stock Performance

Visa stock opened at $243.16 on Friday. The stock has a market cap of $455.52 billion, a PE ratio of 32.51, a P/E/G ratio of 1.86 and a beta of 0.97. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $230.38 and its two-hundred day moving average price is $226.18. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $244.74.

Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.12. The company had revenue of $7.99 billion for the quarter, compared to analysts’ expectations 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 posted $1.79 earnings per share. As a group, analysts expect that Visa Inc. will post 8.59 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is currently 24.06%.

Visa Company Profile

(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.