Visa Inc. (NYSE:V) Shares Purchased by Horizon Wealth Management LLC

Horizon Wealth Management LLC boosted its position in Visa Inc. (NYSE:V) by 17.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,075 shares of the credit-card processor’s stock after purchasing an additional 156 shares during the quarter. Horizon Wealth Management LLC’s holdings in Visa were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Visa by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares during the period. Capital International Investors lifted its holdings in shares of Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the period. Capital World Investors lifted its holdings in shares of Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Citigroup assumed coverage on shares of Visa in a report on Monday. They issued a “buy” rating on the stock. Truist Financial assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price target on the stock. Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Finally, Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Stock Up 1.0%

NYSE V opened at $370.44 on Friday. The stock has a market cap of $683.52 billion, a PE ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.96. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $371.00. The business has a 50 day moving average price of $345.45 and a two-hundred day moving average price of $335.50. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.51 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock worth $58,645,479 in the last 90 days. 0.13% of the stock is owned by company insiders.

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.