WFA Asset Management Corp Acquires 161 Shares of Visa Inc. (NYSE:V)

WFA Asset Management Corp grew its holdings in Visa Inc. (NYSE:V) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,263 shares of the credit-card processor’s stock after purchasing an additional 161 shares during the period. Visa makes up about 0.5% of WFA Asset Management Corp’s holdings, making the stock its 21st biggest position. WFA Asset Management Corp’s holdings in Visa were worth $793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of V. Capital & Planning LLC increased its holdings in Visa by 21.2% during the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock worth $300,000 after acquiring an additional 166 shares during the period. Sovereign Investment Advisors LLC bought a new stake in Visa during the 4th quarter worth approximately $424,000. Brighton Jones LLC increased its holdings in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Visa during the 4th quarter worth approximately $202,074,000. Finally, Revolve Wealth Partners LLC increased its holdings in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $188,186.28. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock valued at $58,645,479 in the last quarter. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 0.9%

NYSE V opened at $366.72 on Tuesday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $371.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $345.86 and a 200-day moving average of $336.28. The firm has a market cap of $676.66 billion, a PE ratio of 36.97, a price-to-earnings-growth 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 for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the company posted $2.51 EPS. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Piper Sandler upped their target price on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Jefferies Financial Group upped their target price on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Finally, BMO Capital Markets increased their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.