Visa Inc. (NYSE:V) Shares Acquired by AdvisorNet Financial Inc

AdvisorNet Financial Inc increased its stake in shares of Visa Inc. (NYSE:V) by 19.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,114 shares of the credit-card processor’s stock after purchasing an additional 984 shares during the period. AdvisorNet Financial Inc’s holdings in Visa were worth $1,706,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Visa by 3.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,926 shares of the credit-card processor’s stock valued at $3,663,000 after acquiring an additional 486 shares in the last quarter. GSB Wealth Management LLC grew its stake in Visa by 4.3% during the 3rd quarter. GSB Wealth Management LLC now owns 1,338 shares of the credit-card processor’s stock valued at $308,000 after acquiring an additional 55 shares in the last quarter. Providence Capital Advisors LLC grew its stake in Visa by 11.5% during the 3rd quarter. Providence Capital Advisors LLC now owns 1,224 shares of the credit-card processor’s stock valued at $282,000 after acquiring an additional 126 shares in the last quarter. Pegasus Partners Ltd. grew its stake in Visa by 1.4% during the 3rd quarter. Pegasus Partners Ltd. now owns 15,558 shares of the credit-card processor’s stock valued at $3,578,000 after acquiring an additional 217 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Visa by 3.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 11,053 shares of the credit-card processor’s stock valued at $2,542,000 after acquiring an additional 329 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several research reports. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Oppenheimer increased their price target on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Robert W. Baird increased their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Piper Sandler initiated coverage on shares of Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target for the company. Finally, Macquarie increased their price target on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $303.76.

Visa Price Performance

Shares of V opened at $276.17 on Tuesday. Visa Inc. has a twelve month low of $226.02 and a twelve month high of $290.96. The firm’s fifty day simple moving average is $274.07 and its 200-day simple moving average is $273.29. The firm has a market capitalization of $505.10 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 1.88 and a beta of 0.97. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is currently 23.24%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction 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 approximately $150,833.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,402 shares of company stock valued at $9,559,382. Insiders own 0.19% of the company’s stock.

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.