Towerpoint Wealth LLC Increases Stock Position in Visa Inc. (NYSE:V)

Towerpoint Wealth LLC boosted its holdings in Visa Inc. (NYSE:V) by 36.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,135 shares of the credit-card processor’s stock after acquiring an additional 304 shares during the quarter. Towerpoint Wealth LLC’s holdings in Visa were worth $317,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Prairie Sky Financial Group LLC purchased a new stake in shares of Visa during the first quarter worth about $237,000. Wealth Enhancement Advisory Services LLC boosted its position in Visa by 7.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 682,924 shares of the credit-card processor’s stock worth $190,590,000 after acquiring an additional 45,038 shares during the last quarter. Procyon Advisors LLC grew its stake in Visa by 4.3% in the 1st quarter. Procyon Advisors LLC now owns 60,932 shares of the credit-card processor’s stock worth $17,005,000 after acquiring an additional 2,534 shares during the period. ERn Financial LLC raised its holdings in Visa by 1.7% in the 1st quarter. ERn Financial LLC now owns 5,110 shares of the credit-card processor’s stock valued at $1,426,000 after acquiring an additional 85 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its stake in shares of Visa by 52.3% during the 1st quarter. Franklin Street Advisors Inc. NC now owns 2,469 shares of the credit-card processor’s stock worth $689,000 after purchasing an additional 848 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Wells Fargo & Company boosted their target price on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. TD Cowen began coverage on shares of Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. Finally, Evercore ISI reduced their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday. Five 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.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $303.56.

Insider Activity at Visa

In other news, Director Lloyd Carney sold 909 shares of Visa 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 transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The stock was 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 of the company’s stock, valued at $150,833.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction 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 transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. 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 90 days. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Performance

NYSE V traded down $6.98 on Thursday, hitting $266.62. The stock had a trading volume of 10,526,284 shares, compared to its average volume of 6,751,320. The company’s 50-day moving average is $274.13 and its two-hundred day moving average is $273.41. Visa Inc. has a one year low of $226.02 and a one year high of $290.96. The stock has a market cap of $487.63 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 1.87 and a beta of 0.97. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 EPS. On average, analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

Visa Company 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.