Pegasus Asset Management Inc. Has $336,000 Stock Position in Visa Inc. (NYSE:V)

Pegasus Asset Management Inc. raised its stake in Visa Inc. (NYSE:V) by 27.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 958 shares of the credit-card processor’s stock after buying an additional 208 shares during the period. Pegasus Asset Management Inc.’s holdings in Visa were worth $336,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa in the fourth quarter valued at approximately $27,000. Compass Planning Associates Inc acquired a new stake in Visa in the fourth quarter valued at approximately $32,000. NewSquare Capital LLC acquired a new stake in Visa in the fourth quarter valued at approximately $35,000. FPC Investment Advisory Inc. boosted its position in Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new stake in Visa in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.7%

V opened at $357.89 on Wednesday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $660.37 billion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The company has a fifty day moving average price of $351.22 and a two-hundred day moving average price of $338.19.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the firm posted $2.51 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,098 shares of company stock valued at $36,738,526. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on V shares. Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They set a “buy” rating on the stock. Piper Sandler lifted their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. BMO Capital Markets lifted their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, UBS Group lifted their price target on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

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.