Visa Inc. (NYSE:V) Stock Position Raised by Spectrum Wealth Counsel LLC

by · The Cerbat Gem

Spectrum Wealth Counsel LLC increased its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 7.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 40,739 shares of the credit-card processor’s stock after buying an additional 2,856 shares during the period. Visa makes up approximately 1.7% of Spectrum Wealth Counsel LLC’s portfolio, making the stock its 15th biggest position. Spectrum Wealth Counsel LLC’s holdings in Visa were worth $14,277,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of V. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the 1st quarter worth approximately $27,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa during the 4th quarter worth approximately $47,000. Navigoe LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $53,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa during the 1st quarter worth approximately $54,000. Finally, Hurley Capital LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $56,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock valued at $36,771,200 over the last three months. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on V shares. UBS Group increased their price target on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Evercore ISI began coverage on Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target on the stock. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and raised their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Finally, BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.52.

Check Out Our Latest Stock Report on V

Visa Trading Up 0.8%

Visa stock opened at $356.93 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The business’s 50-day simple moving average is $356.30 and its 200-day simple moving average is $345.22. The firm has a market capitalization of $658.60 billion, a PE ratio of 35.87, a PEG ratio of 2.41 and a beta of 0.92. Visa Inc. has a 52 week low of $254.51 and a 52 week high of $375.51.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

About Visa

(Free Report)

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.

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