Naviter Wealth LLC Acquires 1,408 Shares of Visa Inc. (NYSE:V)

Naviter Wealth LLC boosted its holdings in Visa Inc. (NYSE:V) by 14.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,843 shares of the credit-card processor’s stock after acquiring an additional 1,408 shares during the quarter. Naviter Wealth LLC’s holdings in Visa were worth $3,026,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Westend Capital Management LLC purchased a new stake in Visa in the 1st quarter worth about $25,000. Livelsberger Financial Advisory bought a new stake in shares of Visa in the fourth quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the 4th quarter valued at approximately $32,000. Frank Rimerman Advisors LLC bought a new position in Visa in the 4th quarter worth approximately $33,000. Finally, Valued Wealth Advisors LLC purchased a new position in Visa in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, 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. Insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of V stock traded up $4.92 during trading hours on Tuesday, hitting $268.16. The stock had a trading volume of 8,696,822 shares, compared to its average volume of 6,833,536. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $490.45 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 1.80 and a beta of 0.95. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The stock’s 50-day moving average price is $273.70 and its two-hundred day moving average price is $273.61.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the previous year, the firm posted $2.09 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on V shares. Citigroup raised their target price on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company raised their price target on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Robert W. Baird upped their price objective on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Piper Sandler began coverage on Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective on the stock. Finally, Mizuho boosted their target price on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $303.56.

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.