11,050 Shares in Visa Inc. (NYSE:V) Acquired by Cove Private Wealth LLC

Cove Private Wealth LLC bought a new position in shares of Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,050 shares of the credit-card processor’s stock, valued at approximately $2,877,000. Visa accounts for about 2.7% of Cove Private Wealth LLC’s holdings, making the stock its 7th largest holding.

Other large investors have also recently made changes to their positions in the company. Alaethes Wealth LLC increased its stake in Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC increased its stake in Visa by 1.8% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after purchasing an additional 38 shares during the last quarter. Holistic Financial Partners increased its stake in Visa by 2.0% in the fourth quarter. Holistic Financial Partners now owns 1,975 shares of the credit-card processor’s stock valued at $514,000 after purchasing an additional 39 shares during the last quarter. GoalVest Advisory LLC boosted its holdings in shares of Visa by 3.4% in the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock valued at $317,000 after acquiring an additional 40 shares during the period. Finally, Destiny Wealth Partners LLC boosted its holdings in shares of Visa by 2.5% in the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock valued at $433,000 after acquiring an additional 40 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Trading Up 0.2 %

Shares of V stock opened at $271.13 on Tuesday. Visa Inc. has a fifty-two week low of $224.98 and a fifty-two week high of $290.96. The stock has a market cap of $495.88 billion, a P/E ratio of 30.29, a P/E/G ratio of 1.85 and a beta of 0.97. The business has a fifty day simple moving average of $274.04 and a 200-day simple moving average of $272.58. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

V has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. TD Cowen initiated coverage on Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective for the company. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Citigroup increased their price objective on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Oppenheimer increased their price objective on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $303.76.

Visa 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.