Buffington Mohr McNeal Buys 664 Shares of Visa Inc. (NYSE:V)

Buffington Mohr McNeal boosted its holdings in Visa Inc. (NYSE:V) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,667 shares of the credit-card processor’s stock after purchasing an additional 664 shares during the period. Visa makes up 2.0% of Buffington Mohr McNeal’s portfolio, making the stock its 19th largest position. Buffington Mohr McNeal’s holdings in Visa were worth $11,070,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Livelsberger Financial Advisory purchased a new position in shares of Visa in the fourth quarter valued at about $25,000. Westend Capital Management LLC purchased a new position in shares of Visa in the first quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of Visa in the fourth quarter valued at about $32,000. Frank Rimerman Advisors LLC purchased a new position in shares of Visa during the fourth quarter valued at about $33,000. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Visa during the fourth quarter valued at about $37,000. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on V shares. Oppenheimer boosted their price target on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird upped their price objective on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Wedbush upped their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Citigroup upped their price objective on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Piper Sandler initiated coverage on shares of Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $303.56.

Visa Stock Performance

V traded up $4.99 during trading on Tuesday, hitting $268.23. The company’s stock had a trading volume of 8,695,970 shares, compared to its average volume of 6,833,536. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The firm has a market cap of $490.58 billion, a PE ratio of 29.77, a P/E/G ratio of 1.80 and a beta of 0.95. The business’s 50 day simple moving average is $273.70 and its 200-day simple moving average is $273.61.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s payout ratio is 23.24%.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

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.