Spire Wealth Management Has $22.31 Million Stake in Visa Inc. (NYSE:V)

Spire Wealth Management grew its holdings in Visa Inc. (NYSE:V) by 3.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 82,369 shares of the credit-card processor’s stock after acquiring an additional 2,915 shares during the period. Visa accounts for about 0.8% of Spire Wealth Management’s portfolio, making the stock its 27th largest position. Spire Wealth Management’s holdings in Visa were worth $22,314,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. International Assets Investment Management LLC raised its position in shares of Visa by 17,418.7% during the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after acquiring an additional 4,710,188 shares during the last quarter. FMR LLC raised its position in shares of Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after acquiring an additional 2,257,605 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in Visa during the 3rd quarter worth approximately $358,349,000. The Manufacturers Life Insurance Company boosted its stake in Visa by 34.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock worth $903,955,000 after acquiring an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Visa by 28.0% in the third quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock valued at $916,174,000 after purchasing an additional 871,439 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,724 shares of company stock worth $3,278,698. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on V. Robert W. Baird lifted their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. UBS Group increased their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays lifted their price target on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Oppenheimer increased their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $303.00.

Visa Stock Performance

NYSE V traded up $0.88 during trading on Friday, reaching $268.49. 3,862,018 shares of the company’s stock were exchanged, compared to its average volume of 6,930,902. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The stock has a market capitalization of $493.08 billion, a P/E ratio of 30.00, a PEG ratio of 1.84 and a beta of 0.95. The business has a 50 day moving average price of $278.17 and a 200-day moving average price of $265.79. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. During the same period in the previous year, the firm earned $2.09 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s payout ratio is presently 23.24%.

Visa Profile

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.