BNC Wealth Management LLC Trims Holdings in Visa Inc. (NYSE:V)

BNC Wealth Management LLC trimmed its position in Visa Inc. (NYSE:V) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,101 shares of the credit-card processor’s stock after selling 82 shares during the quarter. BNC Wealth Management LLC’s holdings in Visa were worth $2,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Rock Wealth Management LLC purchased a new stake in Visa during the 4th quarter valued at approximately $306,000. Aptus Capital Advisors LLC boosted its position in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after acquiring an additional 30,185 shares during the last quarter. King Wealth Management Group boosted its position in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after acquiring an additional 6,172 shares during the last quarter. Eagle Strategies LLC boosted its position in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after acquiring an additional 63 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Visa during the 4th quarter valued at approximately $10,163,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider now owns 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,448 shares of company stock worth $50,133,659 over the last three months. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on V. BMO Capital Markets increased their target price on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Citigroup began coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating for the company. Jefferies Financial Group increased their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Piper Sandler increased their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Finally, Truist Financial started coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $372.80.

Visa Stock Performance

V stock opened at $352.75 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average price of $349.76 and a 200 day moving average price of $337.45. The company has a market capitalization of $650.87 billion, a P/E ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. Visa’s payout ratio is currently 23.72%.

Visa 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.