Bernard Wealth Management Corp. Boosts Holdings in Visa Inc. (NYSE:V)

Bernard Wealth Management Corp. raised its holdings in Visa Inc. (NYSE:V) by 13.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 11,620 shares of the credit-card processor’s stock after acquiring an additional 1,377 shares during the period. Visa makes up approximately 2.0% of Bernard Wealth Management Corp.’s portfolio, making the stock its 12th biggest position. Bernard Wealth Management Corp.’s holdings in Visa were worth $4,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Visa in the 4th quarter valued at about $27,000. Compass Planning Associates Inc acquired a new position in shares of Visa in the 4th quarter valued at about $32,000. NewSquare Capital LLC acquired a new position in shares of Visa in the 4th quarter valued at about $35,000. FPC Investment Advisory Inc. lifted its stake 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 in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Visa in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Citigroup began coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating on the stock. Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Macquarie reduced their price target on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research 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 stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Performance

Shares of V opened at $352.75 on Friday. The business’s 50 day moving average is $349.76 and its two-hundred day moving average is $337.45. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The firm has a market cap of $650.87 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its 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 return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the company posted $2.51 EPS. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts forecast 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 0.67%. Visa’s dividend payout ratio (DPR) is 23.72%.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% 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, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were 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 owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This trade represents a 17.76% 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 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.