Wealthspire Advisors LLC Raises Position in Visa Inc. (NYSE:V)

Wealthspire Advisors LLC raised its holdings in shares of Visa Inc. (NYSE:V) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,480 shares of the credit-card processor’s stock after acquiring an additional 2,923 shares during the quarter. Wealthspire Advisors LLC’s holdings in Visa were worth $5,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. International Assets Investment Management LLC raised its position in shares of Visa by 17,418.7% during the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after purchasing an additional 4,710,188 shares during the period. FMR LLC increased its holdings in Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after acquiring an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Visa in the 3rd quarter valued at $358,349,000. The Manufacturers Life Insurance Company increased its holdings in Visa by 34.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock valued at $903,955,000 after acquiring an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Visa by 28.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock valued at $916,174,000 after acquiring an additional 871,439 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Royal Bank of Canada lifted their price target on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. TD Cowen initiated coverage on shares of Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price target for the company. Oppenheimer lifted their price target on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Raymond James lifted their price target on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $303.00.

Visa Stock Performance

Shares of V stock traded up $0.73 during trading hours on Wednesday, hitting $277.19. The company’s stock had a trading volume of 8,996,277 shares, compared to its average volume of 5,922,313. The company has a 50 day moving average of $277.81 and a 200 day moving average of $266.37. The stock has a market cap of $506.96 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. On average, sell-side analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling

In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

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.