Naviter Wealth LLC Buys 1,408 Shares of Visa Inc. (NYSE:V)

Naviter Wealth LLC grew its stake in Visa Inc. (NYSE:V) by 14.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,843 shares of the credit-card processor’s stock after acquiring an additional 1,408 shares during the quarter. Naviter Wealth LLC’s holdings in Visa were worth $3,026,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in Visa during the 4th quarter worth approximately $25,000. Westend Capital Management LLC bought a new position in Visa in the first quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in Visa in the 4th quarter valued at $32,000. Frank Rimerman Advisors LLC bought a new stake in Visa during the 4th quarter worth about $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Visa during the 4th quarter worth about $37,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on V shares. Citigroup upped their target price on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price target on shares of Visa in a research note on Wednesday, March 27th. TD Cowen assumed coverage on shares of Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Finally, Oppenheimer raised their target price 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. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $303.56.

Visa Trading Up 1.9 %

Shares of NYSE:V traded up $4.92 during midday trading on Tuesday, hitting $268.16. 8,696,822 shares of the stock traded hands, compared to its average volume of 6,833,536. 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’s 50 day moving average is $273.70 and its two-hundred day moving average is $273.61. The stock has a market capitalization of $490.45 billion, a PE ratio of 29.77, a P/E/G ratio of 1.80 and a beta of 0.95. Visa Inc. has a one year low of $227.68 and a one year high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the previous year, the firm earned $2.09 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, research analysts forecast that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.