Private Advisor Group LLC Increases Holdings in Visa Inc. (NYSE:V)

Private Advisor Group LLC lifted its position in shares of Visa Inc. (NYSE:V) by 1.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 177,390 shares of the credit-card processor’s stock after buying an additional 2,968 shares during the period. Private Advisor Group LLC’s holdings in Visa were worth $62,168,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of V. Brighton Jones LLC lifted its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Visa by 3.1% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 221,222 shares of the credit-card processor’s stock valued at $69,913,000 after buying an additional 6,710 shares in the last quarter. Lowe Brockenbrough & Co. Inc. lifted its stake in Visa by 0.3% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 39,739 shares of the credit-card processor’s stock valued at $12,559,000 after buying an additional 108 shares in the last quarter. Finally, Ballast Advisors LLC raised its holdings in Visa by 3.8% in the 4th quarter. Ballast Advisors LLC now owns 8,043 shares of the credit-card processor’s stock valued at $2,542,000 after acquiring an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on V shares. Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft started coverage on Visa in a report on Thursday. They issued a “buy” rating and a $410.00 price target for the company. Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating for the company. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $375.52.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated 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 approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,108 shares of company stock valued at $36,771,200. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $348.90 on Friday. 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 one year low of $252.70 and a one year high of $375.51. The company’s 50-day simple moving average is $356.82 and its 200-day simple moving average is $343.63. The stock has a market capitalization of $643.78 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 2.37 and a beta of 0.92.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $9.57 billion. During the same quarter last year, the company posted $2.51 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

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.