FOCUS Wealth Advisors LLC lifted its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 1.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,791 shares of the credit-card processor’s stock after acquiring an additional 78 during the period. Visa makes up 0.9% of FOCUS Wealth Advisors LLC’s holdings, making the stock its 28th biggest holding. FOCUS Wealth Advisors LLC’s holdings in Visa were worth $1,506,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. its raised holdings in shares of Visa by 1.9% during the 4th quarter. BlackRock Inc. Now owns 129,031,301 shares of the credit-card processor’s stock valued at $27,962,374,000 after buying an additional 2,440,030 shares during the period. State Street Corp raised its holdings in shares of Visa by 2.1% during the 4th quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock valued at $16,154,022,000 after buying an additional 1,504,897 shares during the period. Geode Capital Management LLC grew its stake in Visa by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 29,682,215 shares of the credit-card processor’s stock valued at $6,416,486,000 after purchasing an additional 827,137 shares in the last quarter. Alliancebernstein LP grew its stake in Visa by 11.5% during the 4th quarter. Alliancebernstein LP now owns 25,850,411 shares of the credit-card processor’s stock valued at $5,602,043,000 after purchasing an additional 2,659,845 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Visa by 1.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,368,049 shares of the credit-card processor’s stock valued at $5,280,800,000 after purchasing an additional 320,042 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.
In other news, President Ryan Mcinerney sold 6,466 shares of the business’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $220.00, for a total value of $1,422,520.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction on Friday, April 29th. The stock was sold at an average price of $218.62, for a total value of $1,967,580.00. Following the completion of the sale, the chief executive officer now directly owns 165,887 shares in the company, valued at approximately $36,266,215.94. The disclosure for this sale can be found here. Insiders have sold a total of 39,933 shares of company stock worth $8,745,055 in the last ninety days. 0.21% of the stock is owned by company insiders.
Shares of NYSE V opened at $205.51 on Friday. The stock’s 50 day simple moving average is $204.67 and its 200 day simple moving average is $212.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a market cap of $390.73 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. Visa Inc. has a 12-month low of $185.91 and a 12-month high of $252.67.
Visa (NYSE:V – Get Rating) last announced its earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.14. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. As a group, equities analysts forecast that Visa Inc. will post 7.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.73%. The ex-dividend date was Thursday, May 12th. Visa’s payout ratio is currently 23.58%.
V has been the subject of a number of recent analyst reports. Cowen lowered their objective price on Visa from $276.00 to $254.00 and set an “outperform” rating for the company in a research note on Wednesday, April 27th. Barclays lowered their objective price on Visa from $265.00 to $260.00 and set an “overweight” rating for the company in a research note on Monday, April 4th. Piper Sandler lowered Visa from an “overweight” rating to a “neutral” rating and lowered their objective price for the company from $283.00 to $239.00 in a research note on Friday, April 29th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th. Finally, Cowen decreased their target price on Visa from $276.00 to $254.00 in a research report on Wednesday, April 27th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $267.44.
About Visa (Get Rating)
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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