Capital Asset Advisory Services LLC Acquires 96 Shares of Visa Inc. (NYSE:V)

Capital Asset Advisory Services LLC grew its holdings in Visa Inc. (NYSE:V) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,497 shares of the credit-card processor’s stock after purchasing an additional 96 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Visa were worth $4,295,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Valley National Advisers Inc. boosted its stake in Visa by 11.6% during the 3rd quarter. Valley National Advisers Inc. now owns 816 shares of the credit-card processor’s stock worth $188,000 after acquiring an additional 85 shares during the last quarter. Trexquant Investment LP bought a new position in Visa during the 3rd quarter worth approximately $5,185,000. Bamco Inc. NY boosted its stake in Visa by 2.4% during the 3rd quarter. Bamco Inc. NY now owns 163,795 shares of the credit-card processor’s stock worth $37,674,000 after acquiring an additional 3,797 shares during the last quarter. Nomura Holdings Inc. raised its holdings in Visa by 101.7% during the 3rd quarter. Nomura Holdings Inc. now owns 1,993 shares of the credit-card processor’s stock worth $458,000 after buying an additional 116,934 shares during the period. Finally, Teza Capital Management LLC raised its holdings in Visa by 28.9% during the 3rd quarter. Teza Capital Management LLC now owns 17,798 shares of the credit-card processor’s stock worth $4,094,000 after buying an additional 3,988 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the business’s 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 transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders sold 34,402 shares of company stock valued at $9,559,382 over the last quarter. 0.19% of the stock is owned by company insiders.

Visa Trading Down 1.6 %

Shares of Visa stock opened at $262.30 on Friday. Visa Inc. has a 52-week low of $227.68 and a 52-week high of $290.96. The firm has a 50-day moving average of $273.88 and a 200-day moving average of $273.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $479.73 billion, a PE ratio of 29.31, a PEG ratio of 1.82 and a beta of 0.97.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the prior year, the business posted $2.09 earnings per share. Visa’s revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The company 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. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.79%. Visa’s dividend payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Mizuho raised their target price on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Royal Bank of Canada raised their target price on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Piper Sandler assumed coverage on shares of Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 target price on the stock. Wedbush raised their target price on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Evercore ISI lowered their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $303.56.

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.