RMR Wealth Builders Boosts Stock Position in Visa Inc. (NYSE:V)

RMR Wealth Builders increased its stake in shares of Visa Inc. (NYSE:V) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,234 shares of the credit-card processor’s stock after purchasing an additional 1,349 shares during the quarter. Visa makes up approximately 0.6% of RMR Wealth Builders’ holdings, making the stock its 26th largest holding. RMR Wealth Builders’ holdings in Visa were worth $6,040,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Norges Bank purchased a new stake in Visa during the 4th quarter worth about $5,171,271,000. GAMMA Investing LLC boosted its stake in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. boosted its stake in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Visa in the 4th quarter worth about $1,955,403,000. Finally, Proficio Capital Partners LLC boosted its stake in Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after buying an additional 3,926,049 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BMO Capital Markets raised their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Jefferies Financial Group raised their price target on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Piper Sandler raised their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Down 0.6%

Shares of NYSE:V opened at $371.11 on Friday. 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 company has a fifty day simple moving average of $348.87 and a 200 day simple moving average of $337.17. The firm has a market cap of $684.76 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results 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. The business had revenue of $9.59 billion during 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%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.51 earnings per share. On average, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 dividend yield of 0.64%. Visa’s dividend payout ratio (DPR) is 23.72%.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s 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 $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,448 shares of company stock worth $50,133,659. 0.13% of the stock is currently owned by insiders.

Visa Company 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.