Sigma Planning Corp Boosts Stock Holdings in Visa Inc. (NYSE:V)

by · The Markets Daily

Sigma Planning Corp raised its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,442 shares of the credit-card processor’s stock after buying an additional 522 shares during the period. Sigma Planning Corp’s holdings in Visa were worth $13,823,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in V. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter worth about $27,000. Sellwood Investment Partners LLC purchased a new stake in Visa in the fourth quarter worth about $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in Visa in the fourth quarter worth about $47,000. Measured Risk Portfolios Inc. purchased a new stake in Visa in the fourth quarter worth about $47,000. Finally, O Brien Wealth Partners LLC purchased a new stake in Visa in the first quarter worth about $54,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,108 shares of company stock valued at $36,771,200. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on V shares. Truist Financial started coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective for the company. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. BMO Capital Markets lifted their target price on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Jefferies Financial Group lifted their target price on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $372.84.

View Our Latest Stock Analysis on V

Visa Trading Up 0.7%

Shares of V stock opened at $350.45 on Tuesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The firm has a fifty day moving average price of $356.96 and a 200-day moving average price of $343.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $646.63 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 2.36 and a beta of 0.92.

Visa (NYSE:V – Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the firm posted $2.51 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities analysts predict 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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Visa Profile

(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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