Diversify Wealth Management LLC Grows Holdings in Visa Inc. $V

Diversify Wealth Management LLC increased its holdings in Visa Inc. (NYSE:V) by 159.3% in the 1st quarter, Holdings Channel reports. The fund owned 58,185 shares of the credit-card processor’s stock after buying an additional 35,748 shares during the quarter. Diversify Wealth Management LLC’s holdings in Visa were worth $19,484,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of V. Clayton Financial Group LLC increased its stake in shares of Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp boosted its position in shares of Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Cresta Advisors Ltd. purchased a new stake in shares of Visa in the 4th quarter worth approximately $26,000. Parvin Asset Management LLC grew its stake in shares of Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Finally, Dorato Capital Management bought a new position in Visa during the 4th quarter valued at approximately $30,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

V stock opened at $349.05 on Monday. The stock’s 50 day simple moving average is $330.81 and its 200 day simple moving average is $324.86. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.02. The stock has a market capitalization of $626.12 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same quarter last year, the company earned $2.76 EPS. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. As a group, research analysts forecast that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Visa Dividend Announcement

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

Insider Buying and Selling

In other news, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The stock was 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 owned 18,404 shares of the company’s stock, valued at $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup lowered their price objective on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Loop Capital initiated coverage on Visa in a research note on Tuesday, March 31st. They issued a “buy” rating and a $387.00 target price on the stock. Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. BMO Capital Markets began coverage on Visa in a research report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price target for the company. Finally, Truist Financial set a $371.00 price target on shares of Visa and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $397.91.

About Visa

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.