Connecticut Wealth Management LLC Grows Stock Holdings in Visa Inc. (NYSE:V)

Connecticut Wealth Management LLC raised its position in shares of Visa Inc. (NYSE:V) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,628 shares of the credit-card processor’s stock after buying an additional 60 shares during the period. Connecticut Wealth Management LLC’s holdings in Visa were worth $5,255,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of V. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa in the 4th quarter valued at approximately $27,000. POM Investment Strategies LLC raised its position in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Compass Planning Associates Inc purchased a new position in shares of Visa in the 4th quarter valued at approximately $32,000. NewSquare Capital LLC purchased a new position in shares of Visa in the 4th quarter valued at approximately $35,000. Finally, FPC Investment Advisory Inc. raised its position in shares of Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after purchasing an additional 83 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

NYSE:V opened at $358.59 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $661.66 billion, a price-to-earnings ratio of 36.15, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The company has a 50 day moving average price of $340.60 and a 200-day moving average price of $330.88. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $369.15.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the company earned $2.51 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s dividend payout ratio is currently 23.72%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Macquarie decreased their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Raymond James reaffirmed an “outperform” rating and issued a $393.00 price objective (up from $374.00) on shares of Visa in a research report on Friday, January 31st. The Goldman Sachs Group increased their price target on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Finally, Piper Sandler increased their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $362.38.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $194,931. This trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 14,813 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at $9,377,671.52. The trade was a 35.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,948 shares of company stock valued at $41,548,282. 0.13% of the stock is owned by company insiders.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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.