Axxcess Wealth Management LLC Sells 8,006 Shares of Visa Inc. $V

Axxcess Wealth Management LLC cut its stake in shares of Visa Inc. (NYSE:VFree Report) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,636 shares of the credit-card processor’s stock after selling 8,006 shares during the period. Axxcess Wealth Management LLC’s holdings in Visa were worth $16,211,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in V. Cvfg LLC boosted its holdings in shares of Visa by 157.6% during the first quarter. Cvfg LLC now owns 5,691 shares of the credit-card processor’s stock worth $1,720,000 after acquiring an additional 3,482 shares during the period. Saxon Interests Inc. increased its stake in shares of Visa by 82.8% during the first quarter. Saxon Interests Inc. now owns 4,994 shares of the credit-card processor’s stock worth $1,509,000 after purchasing an additional 2,262 shares during the period. Golden Road Advisors LLC increased its stake in shares of Visa by 11.8% during the first quarter. Golden Road Advisors LLC now owns 1,004 shares of the credit-card processor’s stock worth $303,000 after purchasing an additional 106 shares during the period. Childress Capital Advisors LLC lifted its holdings in Visa by 5.3% during the 1st quarter. Childress Capital Advisors LLC now owns 7,563 shares of the credit-card processor’s stock worth $2,286,000 after purchasing an additional 379 shares during the last quarter. Finally, Jericho Financial LLP lifted its holdings in Visa by 8.9% during the 1st quarter. Jericho Financial LLP now owns 19,133 shares of the credit-card processor’s stock worth $5,783,000 after purchasing an additional 1,565 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 1.3%

Shares of NYSE:V opened at $347.66 on Thursday. The business’s 50 day simple moving average is $329.75 and its 200 day simple moving average is $324.89. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $365.02. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $623.62 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.88 and a beta of 0.75.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.76 EPS. On average, research analysts anticipate that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 23.34%.

Visa announced that its Board of Directors has authorized a share buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on V shares. Oppenheimer restated an “outperform” rating and issued a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Morgan Stanley reiterated an “overweight” rating and set a $415.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Citigroup dropped their target price on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Barclays began coverage on shares of Visa in a research report on Tuesday. They issued an “overweight” rating and a $420.00 target price for the company. Finally, Truist Financial set a $371.00 price target on shares of Visa and gave the company a “buy” rating in a research note on Tuesday, May 12th. Six investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $397.91.

View Our Latest Analysis on Visa

More Visa News

Here are the key news stories impacting Visa this week:

Insider Buying and Selling

In related news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the transaction, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This represents a 67.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 75,581 shares of company stock worth $25,627,975. Company insiders own 0.12% of the company’s stock.

Visa Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

Featured Articles

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VFree Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.