Mogy Joel R Investment Counsel Inc. increased its holdings in shares of Visa Inc. (NYSE:V) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,393 shares of the credit-card processor’s stock after purchasing an additional 1,795 shares during the period. Visa accounts for about 3.9% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 6th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Visa were worth $40,100,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. OLD Mission Capital LLC acquired a new position in shares of Visa during the third quarter worth $373,000. Royal Harbor Partners LLC increased its stake in Visa by 28.7% during the 4th quarter. Royal Harbor Partners LLC now owns 5,139 shares of the credit-card processor’s stock worth $1,124,000 after buying an additional 1,145 shares during the period. Gofen & Glossberg LLC IL increased its stake in Visa by 14.9% during the 4th quarter. Gofen & Glossberg LLC IL now owns 11,814 shares of the credit-card processor’s stock worth $2,584,000 after buying an additional 1,529 shares during the period. Centennial Wealth Advisory LLC acquired a new position in Visa in the 4th quarter worth $524,000. Finally, 4J Wealth Management LLC purchased a new position in Visa in the 4th quarter valued at about $248,000. Hedge funds and other institutional investors own 80.50% of the company’s stock.
V has been the topic of several recent analyst reports. Truist boosted their price target on Visa from $230.00 to $250.00 in a research note on Wednesday, April 28th. Susquehanna Bancshares upped their target price on Visa from $250.00 to $265.00 and gave the company a “positive” rating in a research report on Wednesday, April 28th. Susquehanna raised their price target on shares of Visa from $250.00 to $265.00 and gave the stock a “positive” rating in a research report on Wednesday, April 28th. Credit Suisse Group lifted their price target on shares of Visa from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 4th. Finally, Mizuho increased their price objective on shares of Visa from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, May 4th. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $246.32.
Visa (NYSE:V) last released its earnings results on Tuesday, April 27th. The credit-card processor reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.12. The firm had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Visa had a net margin of 49.74% and a return on equity of 37.22%. Visa’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.39 EPS. Equities analysts forecast that Visa Inc. will post 5.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, May 13th. This represents a $1.28 annualized dividend and a yield of 0.56%. Visa’s payout ratio is 25.40%.
In other news, President Ryan Mcinerney sold 11,194 shares of Visa stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $213.87, for a total value of $2,394,060.78. Following the transaction, the president now owns 11,194 shares of the company’s stock, valued at approximately $2,394,060.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $235.32, for a total transaction of $2,117,880.00. Following the completion of the transaction, the chief executive officer now directly owns 160,112 shares in the company, valued at approximately $37,677,555.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,626 shares of company stock worth $30,979,639. 0.19% of the stock is owned by corporate insiders.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
Further Reading: What is the S&P/ASX 200 Index?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.