NorthCrest Asset Management LLC increased its position in Visa Inc. (NYSE: V – Get Rating) by 1.0% in Q1, according to its latest filing with the Securities and Exchange Commission. The institutional investor owned 17,515 shares of the credit card processor after buying an additional 179 shares during the quarter. NorthCrest Asset Management LLC’s holdings in Visa were worth $3,884,000 when it last filed with the SEC.
Several other large investors have also recently changed their holdings in the company. Capital Advisors Wealth Management LLC increased its position in Visa by 0.4% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 10,563 shares of the credit card processor worth $2,289,000 after buying 45 more shares last quarter. Corbett Road Capital Management LLC increased its position in Visa by 3.1% during the fourth quarter. Corbett Road Capital Management LLC now owns 1,486 shares of the credit card processor worth $322,000 after buying 45 more shares last quarter. IVC Wealth Advisors LLC increased its position in Visa by 0.8% during the 4th quarter. IVC Wealth Advisors LLC now owns 5,757 shares of the credit card processor worth $1,248,000 after buying 46 more shares last quarter. Financial Consulate Inc. increased its position in Visa by 1.0% during the 4th quarter. Financial Consulate Inc. now owns 4,851 shares of the credit card processor worth $1,051,000 after buying 46 more shares last quarter. Finally, Tranquilli Financial Advisor LLC increased its position in Visa by 3.1% during the 4th quarter. Tranquilli Financial Advisor LLC now owns 1,537 shares of the credit card processor worth $333,000 after buying 46 more shares in the last quarter. Institutional investors hold 80.77% of the company’s shares.
Separately, Chairman Ryan Mcinerney sold 6,467 shares in a trade dated Friday, April 1. The shares were sold at an average price of $223.65, for a total value of $1,446,344.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Additionally, CEO Alfred F. Kelly, Jr. sold 9,000 shares in a trade dated Friday, April 29. The shares were sold at an average price of $218.62, for a total transaction of $1,967,580.00. Following the completion of the sale, the CEO now owns 165,887 shares of the company, valued at approximately $36,266,215.94. The disclosure of this sale can be found here. Last quarter, insiders sold 24,467 shares of the company valued at $5,307,345. 0.21% of the shares are currently held by company insiders.
Visa stock opened at $199.50 on Thursday. Visa Inc. has a 1 year minimum of $185.91 and a 1 year maximum of $252.67. The company has a market capitalization of $379.30 billion, a price-to-earnings ratio of 31.37, a growth price-to-earnings ratio of 1.75 and a beta of 0.90. The company’s fifty-day moving average price is $203.76 and its two-hundred-day moving average price is $211.95. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt ratio of 0.53.
Visa (NYSE:V – Get Rating) last released quarterly earnings data on Tuesday, April 26. The credit card processor reported earnings per share of $1.79 for the quarter, beating analyst consensus estimates of $1.65 by $0.14. Visa had a net margin of 51.10% and a return on equity of 42.89%. The company posted revenue of $7.19 billion for the quarter, versus analyst estimates of $6.82 billion. During the same period last year, the company earned earnings per share of $1.38. The company’s quarterly revenue increased by 25.5% compared to the same quarter last year. On average, research analysts expect Visa Inc. to post an EPS of 7.16 for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1. Shareholders of record on Friday, May 13 received a dividend of $0.375. The ex-dividend date was Thursday, May 12. This represents an annualized dividend of $1.50 and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 23.58%.
V has been the subject of several recent research reports. Citigroup cut its price target on Visa shares from $285.00 to $265.00 in a Monday, April 25 research report. Credit Suisse Group raised its price target on Visa shares from $260.00 to $265.00 and gave the company an “outperform” rating in a Wednesday, April 27 research report. Cowen cut his price target on Visa shares from $276.00 to $254.00 in a Wednesday, April 27 research report. Goldman Sachs Group launched a hedge on Visa shares in a research report on Tuesday, May 17. They issued a “buy” rating and a price target of $282.00 for the company. Finally, Evercore ISI raised its price target on Visa shares from $304.00 to $310.00 and gave the company an “outperform” rating in a Wednesday, April 27 research report. Five investment analysts gave the stock a hold rating and twenty-one gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $267.44.
Visa Company Profile (Get an assessment)
Visa Inc operates as a worldwide payment technology company. The company facilitates digital payments between consumers, merchants, financial institutions, businesses, strategic partners and government entities. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.
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