Accurate Wealth Management LLC Has $4.78 Million Stake in Visa Inc. (NYSE:V)

Accurate Wealth Management LLC raised its holdings in Visa Inc. (NYSE:V) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,329 shares of the credit-card processor’s stock after buying an additional 302 shares during the period. Visa accounts for about 0.9% of Accurate Wealth Management LLC’s portfolio, making the stock its 17th largest holding. Accurate Wealth Management LLC’s holdings in Visa were worth $4,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter valued at about $27,000. POM Investment Strategies LLC boosted its position in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the period. Compass Planning Associates Inc acquired a new position in shares of Visa in the fourth quarter valued at $32,000. NewSquare Capital LLC bought a new position in shares of Visa in the fourth quarter valued at about $35,000. Finally, FPC Investment Advisory Inc. lifted its stake in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after buying an additional 83 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,162 shares of company stock worth $58,645,479. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Down 0.9%

Visa stock opened at $366.72 on Tuesday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $371.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50 day moving average price of $345.86 and a two-hundred day moving average price of $336.28. The firm has a market cap of $676.66 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 2.33 and a beta of 0.94.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa’s payout ratio is currently 23.72%.

Analysts Set New Price Targets

Several brokerages have issued reports on V. Evercore ISI began coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective for the company. BMO Capital Markets lifted their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Finally, Macquarie reduced their target price 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. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $372.80.

About Visa

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.