Apollon Wealth Management LLC Buys 20,008 Shares of Visa Inc. (NYSE:V)

Apollon Wealth Management LLC grew its stake in shares of Visa Inc. (NYSE:V) by 54.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,775 shares of the credit-card processor’s stock after buying an additional 20,008 shares during the period. Apollon Wealth Management LLC’s holdings in Visa were worth $14,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trifecta Capital Advisors LLC boosted its stake in shares of Visa by 2.7% during the third quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock valued at $4,641,000 after purchasing an additional 536 shares during the period. Ledge Wealth Management Inc. increased its holdings in shares of Visa by 81.2% during the third quarter. Ledge Wealth Management Inc. now owns 10,697 shares of the credit-card processor’s stock valued at $2,460,000 after acquiring an additional 4,793 shares in the last quarter. Sigma Investment Counselors Inc. increased its holdings in Visa by 18.9% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,606 shares of the credit-card processor’s stock worth $369,000 after buying an additional 255 shares in the last quarter. Mission Wealth Management LP boosted its position in Visa by 3.1% in the third quarter. Mission Wealth Management LP now owns 21,620 shares of the credit-card processor’s stock worth $4,973,000 after purchasing an additional 654 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its position in Visa by 0.7% in the third quarter. Maryland State Retirement & Pension System now owns 124,737 shares of the credit-card processor’s stock worth $28,691,000 after purchasing an additional 818 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

Shares of NYSE V traded up $3.98 during trading on Tuesday, reaching $276.65. The stock had a trading volume of 6,376,783 shares, compared to its average volume of 5,887,064. Visa Inc. has a one year low of $216.14 and a one year 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. The stock has a market cap of $505.98 billion, a PE ratio of 30.71, a P/E/G ratio of 1.84 and a beta of 0.95. The firm’s 50 day moving average price is $277.94 and its two-hundred day moving average price is $266.06.

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

Visa Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on V. Wedbush boosted their target price on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Royal Bank of Canada raised their price objective on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Macquarie raised their price objective on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Mizuho lifted their price target on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Oppenheimer lifted their price target on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.00.

Insiders Place Their Bets

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The stock was 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 owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,724 shares of company stock worth $3,278,698. 0.19% of the stock is owned by company insiders.

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.