McClarren Financial Advisors Inc. Has $234,000 Position in Visa Inc. (NYSE:V)

McClarren Financial Advisors Inc. increased its position in Visa Inc. (NYSE:V) by 447.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 838 shares of the credit-card processor’s stock after acquiring an additional 685 shares during the period. McClarren Financial Advisors Inc.’s holdings in Visa were worth $234,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Nadler Financial Group Inc. raised its holdings in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after acquiring an additional 44 shares during the period. Towerpoint Wealth LLC bought a new stake in Visa during the 4th quarter valued at approximately $216,000. Andrew Hill Investment Advisors Inc. bought a new position in Visa in the 4th quarter worth approximately $3,427,000. Richelieu Gestion SA bought a new position in Visa in the 4th quarter worth approximately $307,000. Finally, Cooper Financial Group lifted its holdings in shares of Visa by 6.4% during the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after buying an additional 476 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 1.2 %

NYSE V opened at $265.60 on Friday. The stock’s 50 day simple moving average is $272.88 and its 200 day simple moving average is $273.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. 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 $485.77 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95.

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

Visa Dividend Announcement

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. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. Visa’s payout ratio is 23.24%.

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction on 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 completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 in the company, valued at $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 25,293 shares of Visa 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 sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Oppenheimer upped their price objective 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 lifted their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Royal Bank of Canada boosted their price target on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Piper Sandler started coverage on Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $304.44.

About Visa

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.