Fiduciary Wealth Partners LLC Buys Shares of 243 Visa Inc. (NYSE:V)

Fiduciary Wealth Partners LLC bought a new stake in Visa Inc. (NYSE:V) during the first quarter, HoldingsChannel.com reports. The firm bought 243 shares of the credit-card processor’s stock, valued at approximately $85,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 purchasing an additional 14,723,050 shares during the last quarter. 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 purchasing an additional 2,785,707 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Visa during the fourth quarter worth about $673,689,000. Sanders Capital LLC bought a new stake in shares of Visa during the fourth quarter worth about $623,022,000. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of Visa by 295.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor’s stock worth $746,550,000 after purchasing an additional 1,764,781 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays reaffirmed an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They issued a “neutral” rating on the stock. Five research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $380.84.

Visa Stock Down 1.9%

Shares of NYSE V opened at $338.81 on Friday. Visa Inc. has a 52 week low of $254.51 and a 52 week high of $375.51. The business has a 50-day simple moving average of $355.06 and a two-hundred day simple moving average of $346.34. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $625.16 billion, a P/E ratio of 33.09, a P/E/G ratio of 2.30 and a beta of 0.94.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter last year, the firm posted $2.42 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at $9,904,875. This trade represents a 30.58% 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 8,630 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,913 shares of company stock worth $32,902,432. 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.