Miracle Mile Advisors LLC Buys 2,742 Shares of Visa Inc. (NYSE:V)

Miracle Mile Advisors LLC raised its stake in shares of Visa Inc. (NYSE:V) by 12.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 24,383 shares of the credit-card processor’s stock after purchasing an additional 2,742 shares during the period. Miracle Mile Advisors LLC’s holdings in Visa were worth $6,805,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Alaethes Wealth LLC grew its stake in shares of Visa by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after buying an additional 37 shares during the period. Jessup Wealth Management Inc lifted its holdings in shares of Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares in the last quarter. Garden State Investment Advisory Services LLC lifted its holdings in shares of Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after acquiring an additional 38 shares in the last quarter. Holistic Financial Partners lifted its holdings in shares of Visa by 2.0% during the 4th quarter. Holistic Financial Partners now owns 1,975 shares of the credit-card processor’s stock valued at $514,000 after acquiring an additional 39 shares in the last quarter. Finally, GoalVest Advisory LLC lifted its holdings in shares of Visa by 3.4% during the 4th quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock valued at $317,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V traded up $0.77 during trading on Monday, reaching $263.24. The company had a trading volume of 7,874,674 shares, compared to its average volume of 6,817,989. The firm’s fifty day moving average is $273.88 and its 200 day moving average is $273.58. The firm has a market capitalization of $481.45 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95. Visa Inc. has a twelve month low of $227.68 and a twelve month high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business posted $2.09 EPS. On average, equities analysts forecast that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

Insider Activity at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

V has been the topic of several recent research reports. UBS Group lifted their target price on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Evercore ISI cut their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Citigroup boosted their price objective on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Oppenheimer boosted their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Piper Sandler initiated coverage on shares of Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $303.56.

Visa Profile

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.