Tcfg Wealth Management LLC Boosts Position in Visa Inc. $V

Tcfg Wealth Management LLC raised its stake in Visa Inc. (NYSE:V) by 312.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,046 shares of the credit-card processor’s stock after buying an additional 28,827 shares during the period. Visa comprises 1.1% of Tcfg Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Tcfg Wealth Management LLC’s holdings in Visa were worth $12,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Parvin Asset Management LLC raised its stake in shares of Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Sagard Holdings Management Inc. bought a new position in Visa in the second quarter worth approximately $31,000. Bare Financial Services Inc grew its stake in Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 66 shares in the last quarter. Imprint Wealth LLC purchased a new position in Visa during the 3rd quarter worth $39,000. Finally, Winnow Wealth LLC purchased a new position in Visa during the 2nd quarter worth $40,000. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Down 0.5%

Shares of NYSE:V opened at $308.55 on Wednesday. The business’s 50-day moving average is $323.65 and its 200 day moving average is $335.32. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The firm has a market capitalization of $560.07 billion, a P/E ratio of 28.94, a P/E/G ratio of 1.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter last year, the company earned $2.75 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were paid a $0.67 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. Visa’s dividend payout ratio (DPR) is 25.14%.

Insider Buying and Selling

In other Visa news, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the transaction, the director owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on V. TD Cowen reiterated a “buy” rating on shares of Visa in a report on Friday, January 30th. Piper Sandler set a $160.00 price target on Visa in a research note on Wednesday, January 28th. Truist Financial set a $372.00 price objective on Visa in a report on Tuesday, February 10th. Bank of America started coverage on shares of Visa in a research note on Thursday, March 5th. They issued a “buy” rating and a $410.00 price objective for the company. Finally, Macquarie Infrastructure reiterated an “outperform” rating and set a $410.00 target price on shares of Visa in a report on Friday, January 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Buy” and a consensus price target of $392.65.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.