Financial Enhancement Group LLC boosted its position in shares of Visa Inc. (NYSE:V – Free Report) by 39.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,028 shares of the credit-card processor’s stock after purchasing an additional 8,430 shares during the period. Visa makes up 1.3% of Financial Enhancement Group LLC’s holdings, making the stock its 23rd biggest holding. Financial Enhancement Group LLC’s holdings in Visa were worth $6,921,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in V. Moneta Group Investment Advisors LLC grew its position in Visa by 116,608.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after acquiring an additional 24,483,134 shares in the last quarter. Norges Bank acquired a new stake in Visa in the 4th quarter valued at about $3,067,232,000. Morgan Stanley boosted its stake in shares of Visa by 13.0% in the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after buying an additional 5,864,340 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Visa by 130.4% during the first quarter. Envestnet Asset Management Inc. now owns 7,042,098 shares of the credit-card processor’s stock worth $680,069,000 after buying an additional 3,986,135 shares during the period. Finally, State Street Corp lifted its position in shares of Visa by 3.7% during the 1st quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock worth $16,435,339,000 after purchasing an additional 2,572,159 shares during the last quarter. Hedge funds and other institutional investors own 81.35% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on V shares. Barclays raised their target price on Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Wedbush restated an “outperform” rating and set a $270.00 target price on shares of Visa in a research report on Thursday, August 31st. Jefferies Financial Group increased their target price on Visa from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Truist Financial lifted their price target on Visa from $270.00 to $275.00 in a research note on Wednesday, July 26th. Finally, Citigroup increased their target price on shares of Visa from $273.00 to $275.00 in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $273.77.
Visa Stock Performance
NYSE:V opened at $247.16 on Wednesday. The firm has a market capitalization of $460.17 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 1.86 and a beta of 0.95. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $248.87. The firm has a 50-day moving average price of $241.36 and a 200 day moving average price of $231.87.
Visa (NYSE:V – Get Free Report) last issued 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 analysts’ expectations of $8.06 billion. During the same period in the prior year, the firm posted $1.98 EPS. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 8.65 earnings per share for the current fiscal year.
Visa Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.73%. Visa’s payout ratio is 22.84%.
Insider Activity
In other news, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was 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 is accessible through the SEC website. In other Visa news, insider Rajat Taneja sold 2,300 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $552,000.00. Following the completion of the sale, the insider now directly owns 232,112 shares in the company, valued at $55,706,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 24,025 shares of Visa stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $5,766,000.00. The disclosure for this sale can be found here. Insiders have sold 65,750 shares of company stock valued at $15,845,648 over the last three months. 0.22% of the stock is owned by insiders.
Visa 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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