Belpointe Asset Management LLC increased its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 16.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,227 shares of the credit-card processor’s stock after purchasing an additional 3,206 shares during the period. Belpointe Asset Management LLC’s holdings in Visa were worth $5,011,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. Blue Door Asset Management LLC acquired a new stake in Visa during the first quarter worth approximately $299,000. Schonfeld Strategic Advisors LLC grew its stake in Visa by 1.5% during the first quarter. Schonfeld Strategic Advisors LLC now owns 613,474 shares of the credit-card processor’s stock worth $138,314,000 after purchasing an additional 9,337 shares during the period. Meeder Advisory Services Inc. boosted its holdings in Visa by 4.1% in the first quarter. Meeder Advisory Services Inc. now owns 20,224 shares of the credit-card processor’s stock worth $4,560,000 after acquiring an additional 797 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Visa by 24.7% in the first quarter. Moneta Group Investment Advisors LLC now owns 25,257 shares of the credit-card processor’s stock worth $5,694,000 after acquiring an additional 4,996 shares in the last quarter. Finally, Family Legacy Inc. boosted its holdings in Visa by 3.4% in the first quarter. Family Legacy Inc. now owns 17,500 shares of the credit-card processor’s stock worth $3,946,000 after acquiring an additional 581 shares in the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.
Insiders Place Their Bets
In other news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Friday, September 1st. The stock was sold at an average price of $247.47, for a total value of $2,016,880.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Friday, September 1st. The stock was sold at an average price of $247.47, for a total value of $2,016,880.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rajat Taneja sold 22,700 shares of Visa 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 of the company’s stock, valued at $55,755,623.52. The disclosure for this sale can be found here. Insiders sold 65,750 shares of company stock valued at $15,845,648 over the last ninety days. 0.22% of the stock is currently owned by insiders.
Visa Stock Performance
Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. Visa had a return on equity of 49.42% and a net margin of 51.94%. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period last year, the business posted $1.98 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 8.65 earnings per share for the current year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Thursday, August 10th. Visa’s dividend payout ratio is currently 22.84%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on V shares. Citigroup increased their price target on Visa from $273.00 to $275.00 in a report on Wednesday, July 26th. Jefferies Financial Group increased their price target on Visa from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Truist Financial increased their price target on Visa from $270.00 to $275.00 in a report on Wednesday, July 26th. Barclays increased their price target on Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Finally, Credit Suisse Group raised their target price on Visa from $265.00 to $275.00 in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.77.
Read Our Latest Analysis on Visa
About Visa
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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