FSM Wealth Advisors LLC Boosts Holdings in Visa Inc. (NYSE:V)

FSM Wealth Advisors LLC raised its holdings in shares of Visa Inc. (NYSE:V) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,826 shares of the credit-card processor’s stock after acquiring an additional 364 shares during the quarter. Visa makes up 0.9% of FSM Wealth Advisors LLC’s investment portfolio, making the stock its 25th largest position. FSM Wealth Advisors LLC’s holdings in Visa were worth $3,794,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Visa during the fourth quarter worth about $5,171,271,000. GAMMA Investing LLC grew its holdings in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after buying an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Visa during the fourth quarter worth about $1,955,403,000. Finally, Northern Trust Corp grew its holdings in shares of Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Truist Financial initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating and a $400.00 target price for the company. Piper Sandler increased their price objective 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. Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. Finally, William Blair restated 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $372.84.

Visa Trading Up 1.3%

NYSE V opened at $358.70 on Friday. The company’s fifty day simple moving average is $355.33 and its 200-day simple moving average is $340.96. Visa Inc. has a 52 week low of $252.70 and a 52 week 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 stock has a market cap of $661.86 billion, a P/E ratio of 36.05, a PEG ratio of 2.40 and a beta of 0.92.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the prior year, the company posted $2.51 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company 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 of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa’s dividend payout ratio is currently 23.72%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $185,576.46. This represents a 94.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the 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 owned 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,478 shares of company stock worth $33,717,733. Insiders own 0.13% of the company’s stock.

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.