American Money Management LLC Acquires 179 Shares of Visa Inc. (NYSE:V)

American Money Management LLC boosted its position in Visa Inc. (NYSE:V) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,046 shares of the credit-card processor’s stock after buying an additional 179 shares during the period. Visa makes up about 2.3% of American Money Management LLC’s holdings, making the stock its 10th biggest position. American Money Management LLC’s holdings in Visa were worth $11,932,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Visa during the 1st quarter worth $3,518,533,000. Northern Trust Corp boosted its position in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Visa during the 4th quarter worth $673,689,000. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of Visa by 295.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor’s stock worth $746,550,000 after purchasing an additional 1,764,781 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on V shares. BMO Capital Markets boosted their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Jefferies Financial Group boosted their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. The Goldman Sachs Group started coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “neutral” rating on the stock. Macquarie boosted their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $380.84.

Visa Trading Up 1.8%

NYSE V opened at $342.66 on Thursday. Visa Inc. has a 12 month low of $258.74 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $628.02 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.94. The company’s fifty day moving average price is $351.11 and its two-hundred day moving average price is $347.19.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.42 EPS. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa’s dividend payout ratio is currently 23.05%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,100 shares of company stock worth $27,643,224. Corporate insiders own 0.13% of the company’s stock.

Visa Company 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.