Spire Wealth Management Has $21.83 Million Stake in Visa Inc. (NYSE:V)

Spire Wealth Management raised its position in Visa Inc. (NYSE:V) by 7.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 62,291 shares of the credit-card processor’s stock after purchasing an additional 4,292 shares during the period. Visa accounts for approximately 0.7% of Spire Wealth Management’s portfolio, making the stock its 29th largest position. Spire Wealth Management’s holdings in Visa were worth $21,831,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hirtle Callaghan & Co LLC raised its position in shares of Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after purchasing an additional 29 shares during the last quarter. FWL Investment Management LLC raised its position in shares of Visa by 0.5% in the 4th 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. Strategic Family Wealth Counselors L.L.C. raised its position in shares of Visa by 0.4% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 30 shares during the last quarter. Capstone Financial Advisors Inc. raised its position in shares of 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 purchasing an additional 30 shares during the last quarter. Finally, Headinvest LLC raised its position in shares of Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock worth $1,265,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 1.6%

V stock opened at $345.87 on Thursday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market cap of $638.19 billion, a P/E ratio of 34.76, a PEG ratio of 2.36 and a beta of 0.94. The business’s 50-day moving average price is $352.56 and its 200-day moving average price is $339.31.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the previous year, the firm earned $2.51 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s payout ratio is currently 23.72%.

Insider Activity

In related news, insider Paul D. Fabara sold 14,813 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total value of $5,259,207.52. Following the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,377,671.52. The trade was a 35.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock valued at $36,738,526 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on V. Susquehanna reissued a “positive” rating on shares of Visa in a research report on Friday, March 21st. Citigroup began coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating for the company. Macquarie decreased their target price on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They issued a “neutral” rating for the company. Finally, Truist Financial began coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 target price for the company. Five 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 company. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

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.