Asset One Wealth Management LLC Buys New Position in Visa Inc. $V

Asset One Wealth Management LLC bought a new stake in shares of Visa Inc. (NYSE:VFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,492 shares of the credit-card processor’s stock, valued at approximately $4,170,000.

A number of other hedge funds have also bought and sold shares of V. Brighton Jones LLC lifted its holdings in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. lifted its holdings in Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after acquiring an additional 477 shares during the period. Matrix Asset Advisors Inc. NY lifted its holdings in Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after acquiring an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. lifted its holdings in Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after acquiring an additional 2,230 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

Shares of V opened at $330.42 on Thursday. The firm has a market cap of $592.69 billion, a PE ratio of 28.78, a PEG ratio of 1.78 and a beta of 0.77. The stock’s fifty day moving average price is $320.34 and its two-hundred day moving average price is $324.26. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $359.66.

Visa (NYSE:VGet Free Report) last issued its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.76 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 13.09 EPS for the current year.

Visa announced that its board has initiated a share repurchase plan on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is presently 23.34%.

Insider Buying and Selling at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on V shares. Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. UBS Group lifted their price target on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Citigroup dropped their price target on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Bank of America started coverage on Visa in a report on Thursday, March 5th. They set a “buy” rating and a $410.00 price target on the stock. Finally, Weiss Ratings lowered Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Buy” and an average price target of $387.78.

Read Our Latest Stock Analysis on V

Visa News Roundup

Here are the key news stories impacting Visa this week:

Visa Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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