Argos Wealth Advisors LLC Buys New Shares in Visa Inc. $V

Argos Wealth Advisors LLC bought a new stake in Visa Inc. (NYSE:VFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,924 shares of the credit-card processor’s stock, valued at approximately $2,078,000. Visa comprises 0.6% of Argos Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of V. Invariant Investment Management bought a new stake in shares of Visa during the fourth quarter valued at approximately $969,000. Vanguard Group Inc. increased its holdings in shares of Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after acquiring an additional 1,054,343 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Visa by 2.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock valued at $198,596,000 after acquiring an additional 14,581 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Visa by 24.1% during the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock valued at $281,045,000 after acquiring an additional 159,906 shares in the last quarter. Finally, Mawer Investment Management Ltd. increased its holdings in shares of Visa by 11.3% during the third quarter. Mawer Investment Management Ltd. now owns 2,352,766 shares of the credit-card processor’s stock valued at $803,187,000 after acquiring an additional 238,872 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the transaction, the director owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. The trade was a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is currently owned by insiders.

Visa Stock Up 0.8%

V stock opened at $326.41 on Wednesday. The stock’s fifty day simple moving average is $311.08 and its two-hundred day simple moving average is $326.25. 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 1-year low of $293.89 and a 1-year high of $375.51. The stock has a market cap of $585.50 billion, a P/E ratio of 28.43, a P/E/G ratio of 1.73 and a beta of 0.78.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter in the previous year, the firm earned $2.76 earnings per share. The business’s revenue was up 17.1% on a year-over-year basis. Analysts expect that Visa Inc. will post 13.08 EPS for the current year.

Visa declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be given a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is currently 23.34%.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BMO Capital Markets assumed coverage on Visa in a report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price target for the company. Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. Truist Financial set a $371.00 price target on Visa and gave the stock a “buy” rating in a report on Tuesday. Loop Capital assumed coverage on Visa in a report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price target for the company. Finally, Rothschild & Co Redburn set a $385.00 price target on Visa in a report on Wednesday, January 28th. Six investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $387.67.

Get Our Latest Research Report on Visa

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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