Cove Private Wealth LLC Buys 62 Shares of Visa Inc. (NYSE:V)

Cove Private Wealth LLC increased its stake in shares of Visa Inc. (NYSE:V) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,112 shares of the credit-card processor’s stock after buying an additional 62 shares during the quarter. Visa comprises approximately 2.0% of Cove Private Wealth LLC’s investment portfolio, making the stock its 10th biggest position. Cove Private Wealth LLC’s holdings in Visa were worth $3,894,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. FWL Investment Management LLC grew its holdings in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock worth $2,005,000 after purchasing an additional 29 shares during the last quarter. Yeomans Consulting Group Inc. boosted its position in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares during the period. Semus Wealth Partners LLC boosted its position in Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after buying an additional 29 shares during the period. Capstone Financial Advisors Inc. grew its holdings in Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock worth $276,000 after acquiring an additional 30 shares during the last quarter. Finally, Headinvest LLC increased its position in shares of Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,100 shares of company stock worth $27,643,224. 0.13% of the stock is currently owned by insiders.

Visa Stock Up 1.4%

V opened at $336.86 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $258.74 and a fifty-two week high of $375.51. The firm’s fifty day moving average is $352.79 and its 200 day moving average is $347.26. The stock has a market cap of $617.39 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the company earned $2.42 EPS. Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Morgan Stanley increased their price target on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Barclays reissued an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Oppenheimer increased their price target on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Finally, Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $380.84.

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.