ACT Advisors LLC. Takes $201,000 Position in Visa Inc. (NYSE:V)

by · The Markets Daily

ACT Advisors LLC. bought a new stake in Visa Inc. (NYSE:V – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 574 shares of the credit-card processor’s stock, valued at approximately $201,000.

Several other large investors have also modified their holdings of V. KWB Wealth boosted its stake in Visa by 3.3% during the 1st quarter. KWB Wealth now owns 3,538 shares of the credit-card processor’s stock worth $1,240,000 after purchasing an additional 114 shares during the period. Cypress Wealth Services LLC lifted its stake in shares of Visa by 3.4% in the 1st quarter. Cypress Wealth Services LLC now owns 3,425 shares of the credit-card processor’s stock worth $1,200,000 after acquiring an additional 114 shares during the period. Maltin Wealth Management Inc. acquired a new stake in shares of Visa in the 1st quarter worth $221,000. Beacon Financial Group lifted its stake in shares of Visa by 1.7% in the 1st quarter. Beacon Financial Group now owns 12,213 shares of the credit-card processor’s stock worth $4,280,000 after acquiring an additional 202 shares during the period. Finally, Warren Street Wealth Advisors LLC lifted its stake in shares of Visa by 5.1% in the 1st quarter. Warren Street Wealth Advisors LLC now owns 2,520 shares of the credit-card processor’s stock worth $883,000 after acquiring an additional 122 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, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. This represents a 59.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,807.49. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,948 shares of company stock worth $41,546,299. Insiders own 0.13% of the company’s stock.

Visa Trading Up 0.6%

NYSE V opened at $368.04 on Thursday. The company’s fifty day simple moving average is $344.66 and its 200-day simple moving average is $334.72. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $371.75. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market cap of $679.09 billion, a P/E ratio of 37.10, a PEG ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.51 earnings per share. Equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. Visa’s dividend payout ratio is currently 23.72%.

Analysts Set New Price Targets

V has been the subject of several recent analyst reports. Truist Financial initiated coverage on shares of Visa in a research note on Monday. They issued a “buy” rating and a $400.00 target price for the company. Citigroup initiated coverage on shares of Visa in a research note on Monday. They issued a “buy” rating for the company. Jefferies Financial Group increased their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Susquehanna reiterated a “positive” rating on shares of Visa in a report on Friday, March 21st. Finally, BMO Capital Markets increased their price target on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $367.48.

Get Our Latest Stock Report on V

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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