Nwam LLC lifted its stake in shares of Visa Inc. (NYSE:V – Free Report) by 35.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,631 shares of the credit-card processor’s stock after buying an additional 3,045 shares during the quarter. Nwam LLC’s holdings in Visa were worth $3,991,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of V. Cresta Advisors Ltd. purchased a new position in shares of Visa during the fourth quarter worth about $26,000. Parvin Asset Management LLC increased its position in shares of Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Philadelphia Investment Partners LLC purchased a new stake in shares of Visa in the 2nd quarter valued at about $29,000. Virtus Advisers LLC purchased a new stake in shares of Visa in the 2nd quarter valued at about $33,000. Finally, RHL Group LLC acquired a new stake in shares of Visa in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 82.15% of the company’s stock.
Visa Stock Down 0.6%
Visa stock opened at $379.17 on Tuesday. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $385.57. The stock has a 50 day moving average of $360.10 and a two-hundred day moving average of $331.83. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $676.60 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 2.04 and a beta of 0.74.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is 22.79%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Clear Str upgraded Visa to a “strong-buy” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $430.00 price objective on shares of Visa in a report on Wednesday, July 29th. Piper Sandler restated an “overweight” rating and set a $430.00 target price (up from $394.00) on shares of Visa in a research report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $427.00 target price (up from $410.00) on shares of Visa in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company. According to MarketBeat, Visa has an average rating of “Buy” and an average target price of $416.62.
Read Our Latest Stock Analysis on Visa
Insider Activity at Visa
In other news, insider Tullier Kelly Mahon sold 57,272 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the completion of the sale, the insider owned 49,662 shares in the company, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. The trade was a 9.92% 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. Insiders have sold a total of 96,634 shares of company stock worth $34,537,016 in the last three months. Insiders own 0.12% of the company’s stock.
Visa Company Profile
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.
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