Chemistry Wealth Management LLC Raises Holdings in Visa Inc. (NYSE:V)

Chemistry Wealth Management LLC lifted its position in shares of Visa Inc. (NYSE:V) by 27.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,369 shares of the credit-card processor’s stock after buying an additional 291 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Visa were worth $480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Visa during the 4th quarter worth $27,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Compass Planning Associates Inc purchased a new stake in shares of Visa during the 4th quarter worth $32,000. FPC Investment Advisory Inc. lifted its stake in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after purchasing an additional 83 shares during the last quarter. Finally, NewSquare Capital LLC purchased a new stake in shares of Visa during the 4th quarter worth $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.0%

Shares of V stock opened at $370.44 on Friday. The stock’s 50-day simple moving average is $345.45 and its 200-day simple moving average is $335.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $683.52 billion, a PE ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.96. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $371.00.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating 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 54.79% and a net margin of 54.27%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.51 earnings per share. Equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Analysts Set New Price Targets

V has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Oppenheimer restated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday. They set a “neutral” rating for the company. Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Finally, Macquarie decreased their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. 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 Visa stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,162 shares of company stock worth $58,645,479. 0.13% of the stock is owned by corporate insiders.

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.