Raab & Moskowitz Asset Management LLC boosted its position in Visa Inc. (NYSE:V) by 46.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,742 shares of the credit-card processor’s stock after buying an additional 3,743 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Visa were worth $2,486,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of V. FNY Investment Advisers LLC raised its stake in Visa by 129.1% during the fourth quarter. FNY Investment Advisers LLC now owns 126 shares of the credit-card processor’s stock worth $27,000 after acquiring an additional 71 shares during the period. Kinloch Capital LLC acquired a new stake in Visa during the fourth quarter worth about $27,000. Horan Securities Inc. raised its stake in Visa by 432.0% during the fourth quarter. Horan Securities Inc. now owns 133 shares of the credit-card processor’s stock worth $29,000 after acquiring an additional 108 shares during the period. Cowa LLC bought a new position in Visa in the 4th quarter worth about $29,000. Finally, New Capital Management LP bought a new position in Visa in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 80.50% of the company’s stock.
In other Visa news, insider Rajat Taneja sold 31,750 shares of the firm’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $223.00, for a total value of $7,080,250.00. Following the completion of the sale, the insider now owns 282,606 shares in the company, valued at approximately $63,021,138. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Ryan Mcinerney sold 11,193 shares of the firm’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $210.00, for a total transaction of $2,350,530.00. Following the completion of the sale, 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. Insiders have sold a total of 133,843 shares of company stock valued at $29,838,958 over the last three months. 0.19% of the stock is currently owned by insiders.
Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 27th. The credit-card processor reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.12. Visa had a net margin of 49.74% and a return on equity of 37.22%. The firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the firm posted $1.39 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. On average, research analysts anticipate that Visa Inc. will post 5.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, May 13th. Visa’s dividend payout ratio is currently 25.40%.
V has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on shares of Visa from $230.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. Truist Securities increased their target price on shares of Visa from $230.00 to $250.00 in a research note on Wednesday, April 28th. Credit Suisse Group upped their price target on shares of Visa from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Tuesday. Jefferies Financial Group upped their price target on shares of Visa from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Oppenheimer upped their price target on shares of Visa from $245.00 to $260.00 in a research report 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 company. The stock has an average rating of “Buy” and a consensus target price of $246.32.
Visa Company Profile
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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