Visa Inc. (NYSE:V) Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC increased its position in Visa Inc. (NYSE:V) by 5.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 126,889 shares of the credit-card processor’s stock after purchasing an additional 6,911 shares during the period. Visa comprises about 0.8% of NewEdge Wealth LLC’s investment portfolio, making the stock its 26th biggest holding. NewEdge Wealth LLC’s holdings in Visa were worth $33,036,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Hibernia Wealth Partners LLC acquired a new stake in shares of Visa during the 3rd quarter valued at $25,000. Altshuler Shaham Ltd bought a new position in Visa in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa during the 4th quarter worth about $32,000. Financial Freedom LLC bought a new position in shares of Visa during the 4th quarter worth about $32,000. Finally, Nalls Sherbakoff Group LLC boosted its position in shares of Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders have sold a total of 55,511 shares of company stock valued at $15,131,081 in the last quarter. Insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $275.96 on Monday. The stock has a market cap of $506.80 billion, a PE ratio of 31.76, a PEG ratio of 1.91 and a beta of 0.96. The company’s fifty day moving average is $280.13 and its 200 day moving average is $261.92. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The company had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 EPS. Research analysts anticipate that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, February 8th. Visa’s dividend payout ratio (DPR) is presently 23.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. TD Cowen assumed coverage on Visa in a research note on Thursday. They issued a “buy” rating and a $320.00 price target on the stock. Royal Bank of Canada raised their price objective on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a report on Friday, January 26th. William Blair reiterated an “outperform” rating on shares of Visa in a report on Friday, January 26th. Finally, Evercore ISI boosted their price objective on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $296.87.

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.