Elite Life Management LLC Acquires 37 Shares of Visa Inc. (NYSE:V)

Elite Life Management LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 2.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,419 shares of the credit-card processor’s stock after purchasing an additional 37 shares during the period. Visa accounts for about 1.6% of Elite Life Management LLC’s portfolio, making the stock its 14th largest position. Elite Life Management LLC’s holdings in Visa were worth $497,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in V. Stone Summit Wealth LLC boosted its holdings in Visa by 5.4% in the first quarter. Stone Summit Wealth LLC now owns 7,435 shares of the credit-card processor’s stock valued at $2,606,000 after acquiring an additional 379 shares during the last quarter. Falcon Wealth Planning boosted its holdings in Visa by 10.5% in the first quarter. Falcon Wealth Planning now owns 1,622 shares of the credit-card processor’s stock valued at $568,000 after acquiring an additional 154 shares during the last quarter. Nadler Financial Group Inc. boosted its holdings in Visa by 5.2% in the first quarter. Nadler Financial Group Inc. now owns 2,711 shares of the credit-card processor’s stock valued at $950,000 after acquiring an additional 135 shares during the last quarter. PDS Planning Inc boosted its holdings in Visa by 7.2% in the first quarter. PDS Planning Inc now owns 10,136 shares of the credit-card processor’s stock valued at $3,552,000 after acquiring an additional 680 shares during the last quarter. Finally, Austin Asset Management Co Inc boosted its holdings in Visa by 2.6% in the first quarter. Austin Asset Management Co Inc now owns 1,281 shares of the credit-card processor’s stock valued at $449,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on V. BMO Capital Markets raised their price target on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Jefferies Financial Group increased their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Finally, Truist Financial assumed coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating and a $400.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 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 transaction of $2,978,899.60. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at $185,576.46. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 11,636 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,098 shares of company stock worth $36,738,526. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Up 0.9%

NYSE:V opened at $349.13 on Friday. The stock has a market capitalization of $644.20 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The business’s 50-day simple moving average is $353.30 and its 200-day simple moving average is $339.83. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51.

Visa (NYSE:V) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.51 EPS. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

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.