Fortis Advisors LLC Grows Stake in Visa Inc. (NYSE:V)

Fortis Advisors LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 6.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,570 shares of the credit-card processor’s stock after purchasing an additional 102 shares during the quarter. Fortis Advisors LLC’s holdings in Visa were worth $550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Optas LLC boosted its stake in Visa by 106.6% in the first quarter. Optas LLC now owns 11,045 shares of the credit-card processor’s stock valued at $3,871,000 after acquiring an additional 5,698 shares in the last quarter. Asio Capital LLC boosted its position in shares of Visa by 0.9% in the 1st quarter. Asio Capital LLC now owns 24,460 shares of the credit-card processor’s stock valued at $8,572,000 after purchasing an additional 210 shares during the period. D Orazio & Associates Inc. grew its stake in Visa by 3.2% during the 1st quarter. D Orazio & Associates Inc. now owns 6,031 shares of the credit-card processor’s stock worth $2,114,000 after buying an additional 189 shares during the last quarter. Hengehold Capital Management LLC grew its stake in Visa by 18.7% during the 1st quarter. Hengehold Capital Management LLC now owns 4,162 shares of the credit-card processor’s stock worth $1,459,000 after buying an additional 656 shares during the last quarter. Finally, Brighton Jones LLC increased its position in Visa by 2.3% during the first quarter. Brighton Jones LLC now owns 21,118 shares of the credit-card processor’s stock worth $7,401,000 after buying an additional 483 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. BMO Capital Markets increased their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating on the stock. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Five 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $372.80.

Visa Price Performance

Visa stock opened at $352.75 on Monday. The company has a market cap of $650.87 billion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The business has a fifty day moving average of $349.76 and a two-hundred day moving average of $337.77. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during 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 business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.51 earnings per share. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s payout ratio is 23.72%.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at $8,991,249.33. This trade represents a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,448 shares of company stock valued at $50,133,659 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

About Visa

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.