Client 1ST Advisory Group LLC Has $729,000 Stock Position in Visa Inc. $V

Client 1ST Advisory Group LLC raised its holdings in Visa Inc. (NYSE:V) by 2.6% during the second quarter, HoldingsChannel.com reports. The fund owned 2,054 shares of the credit-card processor’s stock after purchasing an additional 53 shares during the period. Client 1ST Advisory Group LLC’s holdings in Visa were worth $729,000 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. Keystone Global Partners LLC acquired a new stake in shares of Visa during the first quarter valued at about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the second quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the first quarter valued at about $27,000. Cranbrook Wealth Management LLC boosted its stake in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC boosted its stake in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock valued at $38,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% 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 10,485 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Trading Up 1.1%

Shares of Visa stock opened at $349.90 on Friday. The stock has a fifty day simple moving average of $343.78 and a 200 day simple moving average of $346.70. Visa Inc. has a 12-month low of $273.24 and a 12-month high of $375.51. The company has a market capitalization of $641.29 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. Visa’s revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Analysts Set New Price Targets

V has been the topic of a number of recent research reports. UBS Group reissued a “buy” rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Morgan Stanley lifted their price target on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Finally, Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $385.96.

About Visa

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.