Hennion & Walsh Asset Management Inc. Grows Stock Holdings in Visa Inc. (NYSE:V)

Hennion & Walsh Asset Management Inc. increased its stake in shares of Visa Inc. (NYSE:V) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 46,186 shares of the credit-card processor’s stock after acquiring an additional 606 shares during the period. Visa comprises about 0.7% of Hennion & Walsh Asset Management Inc.’s portfolio, making the stock its 13th biggest position. Hennion & Walsh Asset Management Inc.’s holdings in Visa were worth $16,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Hirtle Callaghan & Co LLC raised its stake in shares of Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after acquiring an additional 29 shares during the last quarter. FWL Investment Management LLC raised its stake 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 acquiring an additional 29 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in shares of Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after buying an additional 30 shares during the last quarter. Warther Private Wealth LLC raised its stake in shares of Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after buying an additional 30 shares during the last quarter. Finally, Valmark Advisers Inc. raised its stake in shares of Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after buying an additional 30 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Evercore ISI assumed coverage on shares of Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target for the company. Jefferies Financial Group boosted their price target on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Truist Financial assumed coverage on shares of Visa in a research note on Monday. They set a “buy” rating and a $400.00 price target for the company. Citigroup assumed coverage on shares of Visa in a research note on Monday. They set a “buy” rating for the company. Finally, BMO Capital Markets boosted their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $367.48.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This represents a 59.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,328 shares of company stock valued at $38,419,222. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Shares of V opened at $365.14 on Tuesday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $369.15. The firm has a fifty day simple moving average of $343.82 and a 200 day simple moving average of $334.27. The stock has a market capitalization of $673.74 billion, a price-to-earnings ratio of 36.81, a PEG ratio of 2.33 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

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

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.65%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Visa Company 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.