Tower Wealth Partners Inc. Acquires 143 Shares of Visa Inc. (NYSE:V)

Tower Wealth Partners Inc. raised its holdings in Visa Inc. (NYSE:V) by 6.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,500 shares of the credit-card processor’s stock after acquiring an additional 143 shares during the quarter. Visa makes up 0.5% of Tower Wealth Partners Inc.’s holdings, making the stock its 25th largest holding. Tower Wealth Partners Inc.’s holdings in Visa were worth $698,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Nadler Financial Group Inc. grew its position in shares of Visa by 2.4% during the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after buying an additional 44 shares in the last quarter. Towerpoint Wealth LLC bought a new position in shares of Visa during the 4th quarter worth $216,000. Andrew Hill Investment Advisors Inc. bought a new position in shares of Visa during the 4th quarter worth $3,427,000. Richelieu Gestion SA bought a new position in shares of Visa during the 4th quarter worth $307,000. Finally, Cooper Financial Group grew its position in shares of Visa by 6.4% during the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after buying an additional 476 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.2 %

Shares of NYSE:V opened at $268.73 on Thursday. Visa Inc. has a 52-week low of $227.68 and a 52-week high of $290.96. The stock has a market cap of $491.49 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 1.84 and a beta of 0.95. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $273.58 and a 200-day moving average price of $273.69.

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

Visa Dividend Announcement

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

Insider Buying and Selling

In related 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 transaction of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on 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 $4,959,322.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on V. UBS Group increased their price target on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Oppenheimer upped their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Citigroup upped their price objective on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, TD Cowen began coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $303.56.

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.