Blue Bell Private Wealth Management LLC Increases Position in Visa Inc. (NYSE:V)

Blue Bell Private Wealth Management LLC lifted its stake in Visa Inc. (NYSE:V) by 16.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 661 shares of the credit-card processor’s stock after buying an additional 91 shares during the period. Blue Bell Private Wealth Management LLC’s holdings in Visa were worth $232,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of V. Lakeridge Wealth Management LLC lifted its stake in shares of Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after acquiring an additional 81 shares during the period. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa in the 4th quarter worth $306,000. Aptus Capital Advisors LLC lifted its stake in shares of Visa by 19.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after acquiring an additional 30,185 shares during the period. Eagle Strategies LLC lifted its stake in shares of Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after acquiring an additional 63 shares during the period. Finally, Rafferty Asset Management LLC lifted its stake in shares of Visa by 7.7% in the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock worth $192,948,000 after acquiring an additional 43,546 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, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $190,001.34. This represents a 94.14% 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 company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

Visa Stock Down 0.3%

Visa stock opened at $348.90 on Monday. The firm has a market capitalization of $643.78 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.36 and a beta of 0.92. The company has a 50-day simple moving average of $356.82 and a 200-day simple moving average of $344.02. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. 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 (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The business 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%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.51 earnings per share. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business 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 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is currently 23.72%.

Wall Street Analyst Weigh In

Several brokerages recently commented on V. BMO Capital Markets raised their price objective on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Piper Sandler lifted their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Truist Financial lowered their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a “neutral” rating for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Visa 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $375.52.

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.