Edge Wealth Management LLC decreased its holdings in Visa Inc. (NYSE:V – Free Report) by 24.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 745 shares of the credit-card processor’s stock after selling 235 shares during the period. Edge Wealth Management LLC’s holdings in Visa were worth $208,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in V. Towerpoint Wealth LLC lifted its holdings in shares of Visa by 36.6% during the 1st quarter. Towerpoint Wealth LLC now owns 1,135 shares of the credit-card processor’s stock valued at $317,000 after buying an additional 304 shares during the last quarter. Prairie Sky Financial Group LLC bought a new stake in Visa in the first quarter worth approximately $237,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Visa by 7.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 682,924 shares of the credit-card processor’s stock worth $190,590,000 after purchasing an additional 45,038 shares during the last quarter. Procyon Advisors LLC raised its holdings in shares of Visa by 4.3% during the 1st quarter. Procyon Advisors LLC now owns 60,932 shares of the credit-card processor’s stock valued at $17,005,000 after purchasing an additional 2,534 shares in the last quarter. Finally, ERn Financial LLC lifted its stake in shares of Visa by 1.7% in the 1st quarter. ERn Financial LLC now owns 5,110 shares of the credit-card processor’s stock valued at $1,426,000 after purchasing an additional 85 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.
Visa Trading Down 2.6 %
NYSE V traded down $6.98 on Thursday, reaching $266.62. The company had a trading volume of 10,526,284 shares, compared to its average volume of 6,751,320. Visa Inc. has a 52 week low of $226.02 and a 52 week high of $290.96. The stock’s 50 day moving average is $274.13 and its 200-day moving average is $273.41. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $487.63 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.87 and a beta of 0.97.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is 23.24%.
Analyst Ratings Changes
V has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Robert W. Baird increased their target price on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Evercore ISI dropped their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Citigroup increased their price objective on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $303.56.
View Our Latest Report on Visa
Insider Buying and Selling
In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,402 shares of company stock valued at $9,559,382. Company insiders own 0.19% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Visa
- Energy and Oil Stocks Explained
- BlackBerry Stock: Strong Earnings, Profitability Challenges Ahead
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Progress Software Stock Back in the Green After Beating Forecasts
- The 3 Best Fintech Stocks to Buy Now
- Goldman Sachs Raises Stock Target for Affirm: Key Insights
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.