Clarity Wealth Advisors LLC lifted its position in Visa Inc. (NYSE:V) by 5.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 17,800 shares of the credit-card processor’s stock after acquiring an additional 849 shares during the period. Visa makes up about 2.1% of Clarity Wealth Advisors LLC’s investment portfolio, making the stock its 14th largest position. Clarity Wealth Advisors LLC’s holdings in Visa were worth $3,768,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Raab & Moskowitz Asset Management LLC lifted its holdings in shares of Visa by 46.8% during the first quarter. Raab & Moskowitz Asset Management LLC now owns 11,742 shares of the credit-card processor’s stock worth $2,486,000 after buying an additional 3,743 shares in the last quarter. Dividend Assets Capital LLC lifted its stake in Visa by 6.3% in the first quarter. Dividend Assets Capital LLC now owns 52,021 shares of the credit-card processor’s stock valued at $11,014,000 after buying an additional 3,063 shares during the period. Park Avenue Securities LLC lifted its stake in Visa by 16.2% in the first quarter. Park Avenue Securities LLC now owns 52,190 shares of the credit-card processor’s stock valued at $11,050,000 after buying an additional 7,258 shares during the period. JJJ Advisors Inc. lifted its stake in Visa by 13.1% in the first quarter. JJJ Advisors Inc. now owns 862 shares of the credit-card processor’s stock valued at $183,000 after buying an additional 100 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in Visa by 3.5% in the first quarter. Lindbrook Capital LLC now owns 4,420 shares of the credit-card processor’s stock valued at $936,000 after buying an additional 149 shares during the period. 80.50% of the stock is owned by hedge funds and other institutional investors.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $212.55, for a total transaction of $1,912,950.00. Following the completion of the transaction, the chief executive officer now owns 163,112 shares in the company, valued at approximately $34,669,455.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Ryan Mcinerney sold 11,193 shares of Visa stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $210.00, for a total value of $2,350,530.00. Following the transaction, the president now owns 11,193 shares of the company’s stock, valued at approximately $2,350,530. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,843 shares of company stock valued at $29,838,958. Company insiders own 0.19% of the company’s stock.
Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 27th. The credit-card processor reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.12. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.54 billion. Visa had a return on equity of 37.22% and a net margin of 49.74%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 earnings per share. Equities research analysts predict that Visa Inc. will post 5.45 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, May 13th. This represents a $1.28 annualized dividend and a dividend yield of 0.55%. Visa’s dividend payout ratio is presently 25.40%.
A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Visa in a research report on Tuesday, January 26th. They set an “outperform” rating and a $232.00 target price on the stock. Truist increased their price target on Visa from $230.00 to $250.00 in a research report on Wednesday, April 28th. Barclays increased their price target on Visa from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday. Morgan Stanley upped their price objective on Visa from $258.00 to $279.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Susquehanna Bancshares upped their price objective on Visa from $250.00 to $265.00 and gave the company a “positive” rating in a research note on Wednesday, April 28th. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $246.32.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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