DAVENPORT & Co LLC Grows Stock Holdings in Visa Inc. (NYSE:V)

DAVENPORT & Co LLC boosted its holdings in Visa Inc. (NYSE:V) by 0.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 495,024 shares of the credit-card processor’s stock after buying an additional 3,072 shares during the period. Visa accounts for approximately 1.0% of DAVENPORT & Co LLC’s holdings, making the stock its 14th biggest position. DAVENPORT & Co LLC’s holdings in Visa were worth $172,844,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. NewSquare Capital LLC purchased a new position in Visa during the fourth quarter valued at $35,000. Sellwood Investment Partners LLC bought a new position in shares of Visa during the 4th quarter valued at about $41,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Visa during the fourth quarter valued at about $47,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa during the fourth quarter valued at about $47,000. Finally, Navigoe LLC bought a new stake in shares of Visa in the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $358.70 on Friday. The stock has a 50 day moving average price of $355.33 and a 200 day moving average price of $340.96. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $661.86 billion, a P/E ratio of 36.05, a P/E/G ratio of 2.40 and a beta of 0.92.

Visa (NYSE:V) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The business 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 56.28% and a net margin of 52.86%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $2.51 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s payout ratio is 23.72%.

Analyst Ratings Changes

A number of equities analysts recently commented on V shares. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating for the company. Truist Financial initiated coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating and a $400.00 price objective on the stock. UBS Group raised their target price on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $372.84.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $194,807.49. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares of the company’s stock, valued at $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,478 shares of company stock valued at $33,717,733 in the last three months. Company insiders own 0.13% of the company’s stock.

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.