Visa Inc. (NYSE:V) Stock Holdings Lifted by Apollon Financial LLC

Apollon Financial LLC lifted its position in Visa Inc. (NYSE:V) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,270 shares of the credit-card processor’s stock after acquiring an additional 78 shares during the period. Apollon Financial LLC’s holdings in Visa were worth $445,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors boosted its holdings in shares of Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after purchasing an additional 866,596 shares during the period. Capital World Investors boosted its holdings in shares of Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after purchasing an additional 241,057 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction 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 sale, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by company insiders.

Visa Trading Up 0.7%

Shares of V stock opened at $350.45 on Tuesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The firm’s fifty day simple moving average is $356.96 and its 200 day simple moving average is $343.09. The firm has a market capitalization of $646.63 billion, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. The company has a current ratio of 1.08, a quick ratio of 1.08 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, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the firm posted $2.51 earnings per share. Visa’s revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently announced 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 yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Piper Sandler raised their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Jefferies Financial Group raised their price objective on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Finally, Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a “buy” rating on the stock. Five equities 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $372.84.

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.