Evolve Private Wealth LLC Raises Holdings in Visa Inc. $V

Evolve Private Wealth LLC boosted its holdings in Visa Inc. (NYSE:V) by 54.1% in the 1st quarter, HoldingsChannel reports. The fund owned 9,010 shares of the credit-card processor’s stock after acquiring an additional 3,164 shares during the quarter. Evolve Private Wealth LLC’s holdings in Visa were worth $2,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Visa during the fourth quarter worth about $5,877,738,000. Cardano Risk Management B.V. increased its holdings in Visa by 867.6% in the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after buying an additional 7,364,762 shares in the last quarter. J. Stern & Co. LLP increased its holdings in Visa by 12,497.1% in the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock valued at $1,184,712,000 after buying an additional 3,351,223 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Visa by 48.2% during the 4th quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock valued at $2,282,472,000 after acquiring an additional 2,116,463 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after acquiring an additional 2,075,289 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the sale, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on V. Raymond James Financial reissued an “outperform” rating and issued a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. Oppenheimer reaffirmed an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Citigroup decreased their price objective on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings cut shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Finally, BMO Capital Markets initiated coverage on shares of Visa in a report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 target price for the company. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Buy” and a consensus price target of $387.78.

Visa Trading Up 0.2%

Shares of V opened at $327.78 on Tuesday. The stock has a fifty day moving average of $321.61 and a two-hundred day moving average of $324.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $587.96 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $359.66.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.76 EPS. As a group, analysts forecast that Visa Inc. will post 13.09 EPS for the current year.

Visa declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is 23.34%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.