Visa Inc. $V Shares Acquired by Absher Wealth Management LLC

Absher Wealth Management LLC raised its holdings in Visa Inc. (NYSE:V) by 40.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,615 shares of the credit-card processor’s stock after purchasing an additional 36,757 shares during the period. Visa makes up about 4.5% of Absher Wealth Management LLC’s portfolio, making the stock its 5th largest holding. Absher Wealth Management LLC’s holdings in Visa were worth $38,268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. lifted its holdings in shares of Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after purchasing an additional 477 shares during the period. Matrix Asset Advisors Inc. NY lifted its holdings in Visa by 16.9% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after buying an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. grew its position in shares of Visa by 13.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after buying an additional 2,230 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $357.02 on Tuesday. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.02. The company’s 50 day moving average price is $331.34 and its two-hundred day moving average price is $324.88. The stock has a market cap of $640.41 billion, a P/E ratio of 31.10, a P/E/G ratio of 1.86 and a beta of 0.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:V) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion during 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%.Visa’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.76 earnings per share. On average, equities analysts predict that Visa Inc. will post 13.1 earnings per share for the current year.

Visa announced that its Board of Directors has initiated a share repurchase program 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 purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In other news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This represents a 51.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,490 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,219,704.26. This trade represents a 40.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 75,581 shares of company stock worth $25,627,975 over the last ninety days. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $415.00 target price on shares of Visa in a report on Wednesday, April 29th. Raymond James Financial reiterated an “outperform” rating and issued a $389.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of Visa in a report on Wednesday, April 29th. Truist Financial set a $371.00 price objective on shares of Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, BMO Capital Markets began coverage on Visa in a report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price objective for the company. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $397.91.

About Visa

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.