Atwood & Palmer Inc. Has $484,000 Stake in Visa Inc. (NYSE:V)

Atwood & Palmer Inc. raised its position in shares of Visa Inc. (NYSE:V) by 122.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,382 shares of the credit-card processor’s stock after acquiring an additional 762 shares during the period. Atwood & Palmer Inc.’s holdings in Visa were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of V. Hirtle Callaghan & Co LLC grew its stake in shares of Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after purchasing an additional 29 shares during the last quarter. FWL Investment Management LLC lifted its holdings in Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock worth $2,005,000 after buying an additional 29 shares during the period. Elevation Wealth Partners LLC grew its position in shares of Visa by 3.3% in the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after buying an additional 30 shares during the last quarter. Warther Private Wealth LLC increased its stake in shares of Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after buying an additional 30 shares during the period. Finally, Valmark Advisers Inc. increased its stake in shares of Visa by 0.4% in the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.2%

V stock opened at $370.89 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $346.49 and its 200-day moving average is $336.52. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $371.44. The firm has a market capitalization of $684.35 billion, a PE ratio of 37.39, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the firm posted $2.51 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. Oppenheimer reissued an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Jefferies Financial Group increased their price target on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Truist Financial started coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective on the stock. Finally, Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were 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. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $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. Over the last three months, insiders have sold 168,162 shares of company stock worth $58,645,479. 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.