Imprint Wealth LLC bought a new stake in Visa Inc. (NYSE:V – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 176,157 shares of the credit-card processor’s stock, valued at approximately $17,616,000. Visa makes up about 0.7% of Imprint Wealth LLC’s investment portfolio, making the stock its 13th largest holding.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. BCK Partners Inc. acquired a new stake in Visa in the 1st quarter valued at about $2,717,000. Markel Corp raised its stake in Visa by 0.3% in the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock valued at $213,144,000 after buying an additional 3,065 shares during the period. AMI Investment Management Inc. acquired a new stake in shares of Visa in the first quarter valued at approximately $2,323,000. Ergoteles LLC bought a new position in shares of Visa during the 1st quarter worth approximately $538,000. Finally, XTX Topco Ltd acquired a new position in shares of Visa during the 1st quarter worth approximately $1,496,000. 81.35% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have issued reports on V shares. Truist Financial boosted their price objective on shares of Visa from $270.00 to $275.00 in a report on Wednesday, July 26th. KeyCorp upped their price target on shares of Visa from $265.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. HSBC started coverage on Visa in a report on Friday, October 13th. They set a “hold” rating and a $266.00 price objective on the stock. Mizuho upped their target price on Visa from $240.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. Finally, Raymond James lifted their price target on Visa from $284.00 to $287.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.67.
Visa Stock Down 0.5 %
Visa stock traded down $1.15 during midday trading on Monday, reaching $248.41. The stock had a trading volume of 4,240,028 shares, compared to its average volume of 6,014,352. The company has a current ratio of 1.45, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12 month low of $202.13 and a 12 month high of $250.93. The company has a fifty day moving average price of $238.42 and a two-hundred day moving average price of $236.26. The company has a market capitalization of $462.50 billion, a P/E ratio of 29.74, a PEG ratio of 1.66 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.10. The company had revenue of $8.61 billion for the quarter, compared to analyst estimates of $8.56 billion. Visa had a return on equity of 50.13% and a net margin of 52.90%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $1.93 earnings per share. As a group, equities analysts expect that Visa Inc. will post 9.9 EPS for the current fiscal year.
Visa Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This is a positive change from Visa’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 0.84%. Visa’s dividend payout ratio is currently 25.09%.
Insider Activity at Visa
In related news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total value of $9,445,600.00. Following the transaction, the chairman now directly owns 139,854 shares of the company’s stock, valued at approximately $33,025,123.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $236.14, for a total value of $9,445,600.00. Following the transaction, the chairman now owns 139,854 shares in the company, valued at $33,025,123.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $240.00, for a total value of $1,956,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,100 shares of company stock valued at $17,368,639. 0.22% of the stock is owned by insiders.
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.
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