Hobbs Wealth Management LLC Raises Stock Position in Visa Inc. (NYSE:V)

Hobbs Wealth Management LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 952 shares of the credit-card processor’s stock after buying an additional 31 shares during the quarter. Hobbs Wealth Management LLC’s holdings in Visa were worth $334,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. NewSquare Capital LLC purchased a new stake in Visa in the 4th quarter valued at about $35,000. Sellwood Investment Partners LLC purchased a new position in Visa during the 4th quarter valued at about $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in Visa during the fourth quarter worth $47,000. Measured Risk Portfolios Inc. bought a new stake in Visa during the fourth quarter valued at about $47,000. Finally, Navigoe LLC purchased a new position in shares of Visa in the 4th quarter worth approximately $53,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider directly owned 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’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 $889,868.50. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,478 shares of company stock worth $33,717,733. Insiders own 0.13% of the company’s stock.

Visa Trading Up 1.9%

Shares of V stock opened at $355.10 on Tuesday. The stock’s fifty day moving average is $354.01 and its two-hundred day moving average is $340.47. The firm has a market capitalization of $655.22 billion, a P/E ratio of 35.69, a PEG ratio of 2.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current 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 quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.51 EPS. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Analysts Set New Price Targets

Several equities analysts have issued reports on V shares. Macquarie cut their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Jefferies Financial Group upped their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus 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.